Strong drop in price for CBoT maize future

This morning the prices of the CBoT corn futures fall by up to 2.5%, reaching their lowest level in almost two weeks. Heavy rains in the main growing regions of the USA make fears of a loss in yield disappear.
Traders had been following weather forecasts closely for days now, as corn in the Midwestern United States is now in the pollination phase, which is critical to yield generation.
The fall, which started on Friday, could not be prevented by the bullish USDA figures for corn, which indicated lower harvest expectations than the market had expected. According to this, the US corn harvest should now amount to 15 billion bushels, in June the authority still assumed 15.995 billion bushels.
Traders on the stock exchange are also unsettled by the political tensions in the USA and China.

Hansa Terminhandel GmbH
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