Rapid corn harvest in Brazil

As a result of the falling wheat prices, the corn contracts on the Matif were only able to develop in one direction. The June contract closed at 173.75 euros/t with a daily loss of 0.50 euros/t. In addition to the requirements of the wheat market, the more than adequate global supply situation is also reflected in the price development. The Brazilian consultant AgRural estimates that 73 percent of the harvest has already been harvested. Last year at this point it was only 56 percent. The weather conditions in Brazil point to another rapid first corn harvest. On the CBoT, corn started the first trading day of the new week with profits. At 1.241 million tons, last week's corn shipments were positive and well above the volumes of the previous week and the same week last year. There are also positive signs in pre-market trading this Tuesday.

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