Global corn market weekly review on September 17, 2024

Published 2024년 9월 17일

Tridge summary

The article provides an overview of the current weather conditions and their impact on the corn harvest in various regions, including the U.S. Midwest, Argentina, and the Black Sea. It also reports on the price trends and market updates for corn in MATIF and the European Union, highlighting changes in production forecasts and balances in the U.S., Brazil, Argentina, and Ukraine. The article concludes by mentioning the impact of hot and dry conditions in Russia on its corn harvest and export forecasts, and by discussing the potential effects of recent floods and heavy rains in Central and Eastern Europe on crop quality and the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The weather A portion of the U.S. "corn belt" will receive significant rain during the week, while much of it is forecast for warm temperatures that will help ripen and advance the harvest campaign. Favorable rainfall is expected in Argentina, but mainly in the east, where soil moisture is relatively good compared to the western areas, which remain mostly dry. This continues to hamper the sowing campaign. Temperatures in the Black Sea region remain moderate, and significant precipitation during the week is not expected. Highlights from global markets MATIF corn managed to realize a third consecutive weekly price increase, with the November futures managing to add €3.50/t. Still, it's striking that Friday's close (€205.5/t) is well below the day's high (€208.75/t), which if nothing else speaks to a less-than-convincing bull performance. According to FranceAgriMer, as of September 9, 79% of corn in France was rated good/excellent, compared to 82% a year ago. The European ...

Source: Agroportal