21.
08.23
10:26

Mexico orders corn from the US

Corn prices rose on Friday. The front month of November recorded an increase of 4.75 euros/t and closed the last trading day of the past week with a settlement of 216.00 euros/t. On a weekly basis, however, a minus remains. On Friday of the week before last, the contract was still at EUR 222.75 per ton. Very high temperatures are forecast for the coming days, especially in southern Germany, and the German Weather Service warns of extreme heat. A look at the drought monitor from the Helmholtz Institute shows that there is still enough water in the soil, especially in northern and western Germany. In parts of eastern Germany, on the other hand, the situation is already becoming more critical again. The course was also determined by the weather forecast at the CBoT. High temperatures are forecast for this week in many regions of the US Corn Belt. The fact that the growth was relatively but less significant is also due to the fact that many plants have already completed their critical development phase. Support also came from a flash sale of 120,000 tons of corn to Mexico. It is reported from Brazil that shipments are currently proceeding only hesitantly. That's another reason why Mexico bought from the USA.Pre-market, green signs are again showing on the CBoT today.

Source
VR AGRICULTURAL
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