01.
08.23
09:35

Weather forecast for the Corn Belt better again

Euronext corn joined bearish sentiment to end the week opener on further losses. August, which is now ending at the weekend, was down EUR 7.75/ton to EUR 240.25/ton. In the US yesterday, the latest weather forecasts, which could point to a slight improvement in growth conditions, led to a sell-off. The weak wheat prices triggered additional pressure. At 523,000 tons, the export inspections were somewhat more dynamic than in the previous week. However, the previous year's level of 903,000 tons was clearly missed. The USDA also released its latest corn stock health assessment yesterday. Almost 55% of the stocks are in good to very good condition and have thus deteriorated by two percentage points compared to the previous week.

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