Profit-taking also weighed on corn contracts in Paris and Chicago yesterday. On the Euronext/Matif it fell to 340.75 euros/t in November. That is a minus of 6 euros per ton compared to Monday. Similar to wheat, more and more market participants consider the very clear price reaction due to the Russian attacks on Monday to be excessive. In France, the corn harvest is continuing, but here the logistics are increasingly causing problems for the course of business. Due to a strike at the oil refineries, fuel is becoming scarcer. On the CBoT, the most traded December date lost 5.25 US cents/ and ended up at a converted rate of 281.09 euros per ton. The USDA's crop report last night indicated that the US crop as of October 9 is 31 percent down. That is 11 percentage points more than a week ago and the good weather conditions have also meant that the harvest is now progressing faster than the average for the last five years. However, export shipments have declined. At 457,366 tons, the exported volume fell again by almost 32 percent compared to the previous week. The eCBoT shows a slightly negative sign before the trading day.
Source
VR AGRAR
