Corn prices in Paris fell significantly yesterday. On the Euronext/Matif, the March contract lost 3.25 euros/t and closed at 323.50 euros/t. Subsequent contracts also fell. Accordingly, spot market prices were also weaker yesterday. The sales volume on the cash market remains manageable. At the CBoT, market participants and farmers primarily looked at the USDA figures in the November WASDE. The yields per hectare for the ongoing US crop have been revised upwards and with it the crop estimate as a whole, which is now said to be 353.85 million tons. For the European Union, the US Department of Agriculture corrected the harvest volume again by 1.4 million tons to 54.80 million tons. With imports of 20 million tons and slightly reduced consumption, the ending stocks in the EU should remain constant according to the USDA. Globally, the USDA did not change the estimates for production, but the ending stocks are estimated to be lower overall.
Source
VR AGRICULTURAL
