The dates on the Euronext/Matif for corn increased significantly yesterday. For the March date, it went up by EUR 3.75/t to EUR 278.50 per ton. That puts corn contracts back where they were last Thursday. On the local cash markets, trading in corn is still calm. Small quantities are traded, but it often happens that producers are reluctant to offer goods due to the lower prices compared to December. In addition, due to the high imports within the EU, there is a good supply situation. In addition, the starch industry is currently only showing low demand for corn, as it has reduced its production capacities. On the CBoT, the March contract improved to 282.50 US cents/bu and thus costs the equivalent of 246.44 euros/t. The Ukrainian Grain Association (UGA) expects corn production in Ukraine to reach a maximum of 18 million tons this year. In the war year 2022 an estimated 22 million tons were harvested, in the pre-war year 42 million tons. US export sales last week were solid. Slight losses for the corn futures on the CBoT are showing before the trading day on Friday.
Source
VR AGRICULTURAL
