07.
12.23
08:59

Matif corn continues to be inconsistent

Once again, the corn contracts on Euronext/Matif are not showing a consistent direction and are hardly moving. The front month of March closes marginally 0.25 euros/t higher at a rate of 202.50 euros/t. The following June contract left the trading session unchanged at 208.75 euros/t. At the CBoT, corn went south. The December contract lost 3.75 US cents, the most traded March contract lost 6.25 US cents at a closing price of 484.25 US cents/bu (177.03 euros/t). Since hardly anything has changed in the fundamental situation on the corn market, the losses are primarily due to the negative conditions in the soy market. Positioning in the run-up to WASDE is also increasingly taking place. According to rumors, China canceled at least 10 shipments of corn in Brazil in order to purchase them from the United States. As a result, South Korea is said to have ordered at least 65,000 tons of feed corn from the USA. When the export bookings are published today, the analysts are expecting a wide range of 0.7 million tonnes to 1.5 million tonnes. There are light green signs on the CBoT before the trading session

Source
VR AGRICULTURE
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