19.
12.23
08:36

Weather in Brazil weighs on corn prices

In the slipstream of wheat's attempts to recover, corn also benefited yesterday and rose by 1.00 euros to 198.75 euros/t in the front month of March. The follow-up contracts also increased despite significantly weaker sales volumes. Sustainable impulses in one direction or the other are no longer expected in Europe for this calendar year. As the development of sales volumes shows, many retailers have already withdrawn. Cash market activity in Germany remains manageable, prices remain constant with few sales. When impulses come, they come from the global news channels. In the USA, there were friendly export shipments of 947,418 tons last week, an increase of around 30 percent. The same week last year was also exceeded by around 15 percent. In the year to date, US exporters have been able to ship 2.1 million tons more corn than in the same period last year. The contract prices in Chicago were still showing red signs. The continued better weather prospects for South America continue to weigh on price expectations. After rainfall, a short heat wave has now been announced, which will be replaced by rainfall over the holidays.There is still no clear direction in electronic trading on the CBoT before the trading session.

Source
VR AGRICULTURE
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