While corn contracts rose again in Paris, losses were recorded again on the CBoT. Even if the news is positive for corn gains, the broad market does not expect any supply shortages in the coming season. US sowing is progressing even more sluggishly than market participants had previously expected. With just 14 percent sowing of the targeted area, the pace is well below the average of recent years. Normally, a third of the targeted space would already have been booked by this point. However, the export and logistics problems in China due to the corona measures there clearly overshadow the sluggish sowing. Red signs are also showing on the eCBoT for the post-harvest dates before the trading day.
Source
VR AgrarBeratung AG