Importers and exporters in Europe are closely monitoring the developments of the grain corridor agreement between Russia and Ukraine that is expiring on 19 November, as well as the ongoing negotiations between Russia and Ukraine with the UN. This is because Europe currently requires corn imports to compensate for a decrease in production in 2022. Corn production, especially in France, the major corn exporter in Europe, has been very low as a result of the summer drought that occurred in 2022.