On both exchanges, corn prices did not show a very clear direction yesterday. In Paris, the leading March contract ended the trading session unchanged, but the follow-up contracts increased slightly. On the CBoT, the front month of December, which only shows low turnover, went north, while the follow-up contracts fell slightly. Representatives of the USA and the government in Mexico plan to meet again this week. Mexico had banned the import of genetically modified corn, which has a significant impact on US export opportunities. In the Ukraine, the numbers are condensing around the unharvested corn stocks. These should amount to around 1/3 of the originally sown area. According to the Ukrainian Grain Union, the corn harvest this year would be just 24 million tons. In its last WASDE a week ago, the USDA still expected 31.5 million tons of Ukrainian corn. Premarket corn contracts on the eCBoT are losing today.
Source
VR AGRICULTURAL
