Maize went south on Euronext/Matif on Friday. The most traded June contract fell by EUR 1.25 to EUR 257.75/t. In March, which has just ended, the front month fell by a total of EUR 16.75 or 6.10% per tonne. The CBoT shows a different picture. On Friday, the contracts were able to increase significantly in some cases and there was also a plus of 5.75 US cents/bu on a monthly basis. On the other side of the Atlantic, corn prices benefited from bullish soybean sentiment, but low US inventories are also boosting sentiment. The USDA reported on Friday that stocks at 7.4 billion bushels are as low as they were nine years ago. The mood is dampened by the estimate of the acreage for the coming harvest. According to the USDA experts, the area under corn should increase to 91.99 million acres, compared to 88.58 million acres in the previous year. That would be the third largest acreage in the last decade. The estimate of the analysts was thus slightly exceeded.
Source
VR AGRAR
