US corn may recover slightly

Maize contracts on the Paris Stock Exchange rose marginally yesterday. The front month recorded the highest profit at EUR 1.25/ton to EUR 234.50/ton. The corn prices on the CBoT did the same as the wheat prices and sometimes rose sharply at the beginning of trading. As the day progressed, the bulls were unable to assert themselves any further, causing the contracts to slide into the red by the end of the day. In the US, news that corn stocks had improved slightly came as a surprise. While many market participants had expected the situation to deteriorate, the USDA took a different view. As a result, around 57% of the stocks are in very good condition. That represents a 2% improvement over the previous week.

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