Corn is the cheapest this year in the US and Europe

Crop prices were mixed during Friday trading on commodity markets. In Chicago, wheat rose by 1.6 percent and canola by 0.5 percent, while corn fell by 1.2 percent and soybeans by 1.6 percent. In Europe, the course of mill wheat and fodder wheat also closed in profit, but from the lost value of corn and rapeseed. Extremely hot and dry weather throughout most of August and into early September held back yields across much of the U.S. Corn Belt. This resulted in corn closing at the lowest price level of the year so far after the price drop of over one percent on Friday. The export sales of corn in the first week of the 2023/2024 farming year, which has just begun, was 753,300 tons. China bought 173,900 tons from the United States, Colombia 147,400 tons, Mexico 129,100 tons, an unnamed country 67,200 tons, and Japan 52,900 tons of US corn. In the United States, the National Oilseeds Processors Association (NOPA) published its monthly report. NOPA members represent roughly 94 percent ...