The overall weak market environment yesterday also ensured that the corn contracts on Euronext/Matif in Paris were in red. The March contract lost EUR 4.50 and closed yesterday at EUR 326.75/t. On the spot markets in Germany, prices for corn are also slightly weaker. Corn also went south on the CBoT. Here, too, the weak indicators for wheat and soy caused selling pressure, as did the positioning in the run-up to today's WASDE report. The US corn crop continues to be very strong, with 87 percent of the fields harvested, up 11 percent from both the five-year average and the week before. Losses were limited yesterday by the USDA announcement that a buyer from Mexico has bought 338,600 tons of corn in the US. Pre-market, the eCBoT shows that corn prices are falling again, although the losses are significantly lower compared to the day before.
Source
VR AGRICULTURAL
