Matif corn remains more expensive than Matif wheat

With the negative indications from the wheat market, corn is also going south. The front month of March, which is about to expire, lost EUR 1.75, the following June date closed EUR 5.25 lower at EUR 283.75/t. Due to the distortions in wheat, corn prices have widened their gap to the wheat price so far this week. On the spot markets, fob prices slipped below the 300 euro/t mark over the course of the week. On the CBoT, corn contracts also followed the wheat lead, but weaker soybean leads also pushed futures lower. Traders continue to focus on the cultivation situation in South America. The situation in Brazil remains promising, even if the second corn planting is lagging behind the long-term average. However, the good prospects for Brazil do not hide the fact that drought concerns continue to come from Argentina. Overall, the global supply situation is viewed critically. In the pre-market trading of the CBoT today, green signs appear for the early dates and slightly red signs for the dates of the next harvest.