On the CBoT, the weakening US dollar and rising crude oil prices caused corn prices to rise. The December contract gained 4.75 US cents/bu and is therefore quoted at the equivalent of 251.01 euros/t. In the course of trading, support also came from the bullish soybean market. On the Euronext/Matif, on the other hand, the leading dates fell slightly in value. The most traded March contract lost EUR 1.25 and closed the trading week at EUR 320.00/t. According to the Ukrainian Ministry of Agriculture, 7.8 million tons of wheat were exported in the current season. This means that more corn was exported than in the same period last year. Due to the war, the corn stocks from the previous year are still high and could be taken out of the country with the grain agreement. Meanwhile, the future of the expiring grain deal is still being negotiated.
Source
VR AGRAR
