After Friday's losses, corn also went north again yesterday, some of the losses have been fully recovered. Support for the courses in Paris came from the EU forecast service MARS, in addition to concerns about the Ukrainian transports. Due to the drought in July, the agency reduced the yield prospects for corn significantly. Whereas yields per hectare of 7.87 t/ha were expected in June, it is now 7.25 tons per hectare. That's 7.9% down on the previous month and 7.8% down on the long-term move. At 724,000 tons, US export shipments last week were well below the values of the previous week and the same week last year. The fact that prices at the CBoT were still able to rise is due to the strong indications from the wheat market and a renewed heat in the Corn Belt. Pre-market corn prices start Tuesday with price gains.
Source
VR AgrarBeratung AG
