Corn also fell on Euronext/Matif yesterday as a result of the extension of the grain agreement and losses in wheat. The June contract lost EUR 6.75 and closed at EUR 254.75/t. Apart from that, little has changed fundamentally. Unfortunately, Argentina's farmers continue to be well under the drought in the country and harvesting and sowing operations in Brazil are progressing well. Losses were smaller on the CBoT. Good US export shipments supported the market and allowed prices to rise significantly from the daily low, even if it was not enough for a daily profit at the end of the trading day. For example, in the week ended March 16, US shipments inspected 1.18 million tons, a 17 percent increase in corn volume compared to the previous week. However, from the point of view of the marketing year to date, US exporters have been able to export around 9.9 million tons less corn. A clear trend for today's trading day is not yet recognizable from the pre-market trading trend, the May 23 date in Chicago is currently trading 0.12% lower than yesterday.
Source
VR AGRICULTURAL
