On the Euronext/Matif, corn prices fell yesterday. The front month of November closed the trading day at EUR 319.50/t, EUR 5 less than on Monday. However, the contracts are still trading above last Friday's level. Overall, prices fell due to the weak market environment for agricultural commodities. The losses on both sides of the Atlantic were limited by the yield prospects for the harvest. While the weather forecast for the US growing areas is improving again, dry and warm temperatures continue to appear in Europe, although air temperatures should cool down somewhat this week. Where possible, the areas are artificially irrigated. Data from the German Weather Service shows that there were more hours of sunshine in the summer of 2022 than ever before. Even the dry year 2003 is exceeded. France's Ministry of Agriculture now rates only 47% of maize stocks as good or very good. This is the lowest value for over 11 years.
Source
VR AgrarBeratung AG
