16.
11.23
08:57

Spain remains the top importer of corn

Yesterday, corn was unable to maintain its friendly to stable start to the week and fell overall. The most traded March date closed 1 euro lower at 207.25 euros/t with comparatively low sales. The price quotations in this country have recently remained stable. As of November 12th, Europe's imports of corn have reached 6.29 million tons in the current season. This means that imports are 4.63 million tons behind the value at the same time in the previous marketing year. Spain remains by far the largest consumer within the international community, having imported 2.69 million tons so far. But the Netherlands also has a need and is currently importing 765,953 tonnes from third countries. So far, 331,215 tons have come to Germany outside the EU. Slightly less than half of imports come from Ukraine, followed by Brazil, which accounts for 42.5% of imports. Yesterday, new estimates from the agricultural authority FranceAgriMer had a negative impact. According to their estimates, French corn stocks are likely to increase by 220,000 tons to 1.86 million tons at the end of the marketing year. This is due to weak export demand.As a result of the overall weak development of the agricultural markets, corn also went south on the CBoT. The US harvest continues to make good progress. However, the report of an export sale of 124,000 tons to Japan had a supportive effect. Overall, there was little interest in CBoT's corn contracts yesterday. The trading volume was lower than it had been in 3 years.

Source
VR AGRICULTURE
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