Corn went south yesterday. The front month stopped recovering from the last few days yesterday and lost 1.75 euros/t, which means that the price on the Euronext/Matif table at the closing bell was 259 euros/t. The customs statistics of the European Union published yesterday show that Europe's importers up to 26.3. imported 20.38 million tons of corn in the current marketing year. With 448,336 tons, slightly more corn was imported last week than in the previous week. The volume of the entire previous year is currently exceeded by almost 4 million tons. With the most recent estimate by the European grain trade association Coceral of a European maize harvest of around 62 million tons, import demand is likely to remain high in the coming marketing year. As the government in Kiev announced, Ukraine has been able to export 21.7 million tons of corn in the current marketing year, 1.4 million tons more than in the last marketing year. On the CBoT, the corn contracts for the old crop were also in red, while the contracts for the new crop rose slightly. Fresh numbers from Brazil depressed the mood here.According to this, the second corn sowing is almost 96 percent complete and the harvest rate of the first corn sowing has recently been able to catch up. Around 58 percent are said to have already been taken from the fields. Support came from another export booking from China of 136,000 tons.
Source
VR AGRICULTURAL
