15.
06.22
09:35

US corn follows bearish wheat market

Paris corn failed to find a unified direction yesterday. While the front month has not moved, the rear dates went marginally south. Hardly any lots of the new harvest are currently being traded on the cash markets. Due to the volatile price situation, the buyers are waiting and speculating on an upcoming harvest pressure. The red signs prevailed on the CBoT and thus followed the bearish lead from the wheat. Corn sowing in the USA is on target and reached almost 97% as of last Sunday. Around two thirds of the stocks are in good condition and have therefore deteriorated slightly compared to the previous week. In Brazil, 1.17 million tons of corn were exported in May, exceeding the previous year's figure by almost a million. The focus is currently on the second corn harvest, 7% of which has been harvested so far.

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