01.
03.24
08:03

US export sales exceed analyst expectations

The trend is weaker but overall inconsistent: This is how the price picture for the corn contracts in Paris can be described. The March date, which is about to expire, was able to gain, the most traded June contract closed 2 euros lower at 174.75 euros and thus remains true to its trend of the last few weeks. Throughout February, corn in the June contract lost 11.25 euros per ton. In particular, the wheat specifications weighed heavily yesterday, but the good supply situation and sluggish demand from the feed industry also caused corn contracts to continue to trend weaker. Added to this is Ukraine's extremely good ability to deliver. On the CBoT, corn closed with slight gains. Export sales in the past few days provided a tailwind and, at 1.082 million tons, were almost a third higher than in the previous week. Cheaper fertilizer prices and mild temperatures in the Corn Belt are prompting many farmers to start fertilizing their fields for corn planting. Corn planting could start earlier than usual this year if the mild weather continues. In Argentina, the plants that are about to be harvested are benefiting from positive weather developments. Rainfall is expected in the coming days.

Source
VR AGRICULTURE
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