Russian attacks boost corn

In the slipstream of the more favorable conditions for wheat, the corn prices in Paris showed a green sign yesterday. The front month of November climbed by 3 euros to 213.75 euros/t. Equally supportive are the friendly tendencies from America. Corn also went north on the CBoT after prices fell to their lowest level since December 2020. Both in America and in Europe, market participants are concerned about the new attacks by Russia on the Ukrainian port infrastructure. Hotter temperatures are again forecast for the Corn Belt, but these should be compensated for by precipitation. Ethanol production is up slightly from the previous week. Inventories have also increased. Pre-market, corn on the CBoT is again trending with losses today.

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