For the second trading day in a row, the corn contracts in Paris are showing losses. The front month lost EUR 2.50 and closed at EUR 276.75 per tonne. The June follow-up contract lost the same amount on the same closing price. Last week, EU importers imported 305,751 tons of corn into the European Union. The total imports up to January 29 in the current marketing year add up to 16.46 million tons compared to 9.49 million tons at the same time last year. Ukraine and Brazil remain by far the most important countries of origin for EU maize deliveries. The USDA estimates that Brazil's corn harvest this season could reach 125.5 million tons. This emerges from a report by the local USDA representative in Brazil. In the last WASDE, the analysts at the US Department of Agriculture still expected a harvest of 125 million tons. CBoT corn contracts were up consistently yesterday. US ethanol production has recently continued to grow and provided a corresponding tailwind. With the start of pre-market trading this Thursday, corn prices are also showing firmer in Chicago.
Source
VR AGRICULTURAL
