US corn harvest also in full swing

After losses on Monday, corn on Euronext/Matif went back into the green yesterday. The November date rose by 0.50 euros to 207.00 euros/t, but is therefore well below the level of last week. The grain corn harvest has started on a large scale in almost all regions. The silage corn harvest is going on everywhere. Things remain quiet on the cash markets yesterday, also because of the holiday. Farmers are mostly holding back because of the current harvest and the buyers are waiting for the results of the harvest. Smaller quantities are traded here and there, and goods from Poland and Ukraine also find their way onto the German market. In the week ending October 1st, 274,377 tons of corn were imported into Europe. Overall, corn imports are significantly below the previous year's level. Up to and including the 14th calendar week of the new marketing year, 4.2 million tonnes were imported, compared to 7.39 million tonnes at the same time last year. At the CBoT, corn prices slipped south yesterday. The harvest in the states is making good progress; according to the latest USDA figures, 23 percent has already been harvested, 2 percentage points more than at the same time last year. The export shipments so far this season are around 260.000 tons above the previous year's level. Premarket corn contracts rose slightly this morning.

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