The November front month, which is now saying goodbye, lost significantly yesterday, but this is mainly due to technical selling and necessary liquidations shortly before the end of the contract. The other dates in Paris increased accordingly, the most traded March contract rose by 4.50 euros/t to 344.50 euros/t. The reasons for the increase are the same as for wheat. A shortage of available maize stocks is also seen in the case of maize due to the end of the safe grain corridor. The fact that Russia is also increasingly attacking infrastructure facilities in Ukraine is exacerbating the supply situation. Corn also went north on the CBoT. The leading December contract closed at 697.75 US cents/bu, which corresponds to a converted rate of 277.86 euros/t. The price development here is only dampened by the rapid harvest. According to the USDA report, 76 percent of the areas are retracted. The dry weather in the Corn Belt means farmers are now harvesting 12 percent more corn than at the same time last year.
Source
VR AGRICULTURAL
