Market maintains 30-cent corn expectations despite correction in Greece

Published 2022년 7월 18일

Tridge summary

The article discusses the current state of the corn market, highlighting recent price fluctuations and negotiations between producers and buyers. It notes a shift in buying limits from last year, with an increase to 55-60 euros per tonne, and the reluctance of some buyers to meet the proposed prices for this year's harvest, which range from 70 to 90 euros per tonne. The article also touches on reduced harvest expectations in Europe and Russia, as reported by the Commission and the US Department of Agriculture, and the ongoing challenge of 130 merchant ships waiting to offload Ukrainian grain and corn from the Black Sea to Romanian ports.

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

Original content

Whenever there is talk of the upcoming crop, the willingness to shear the original proposals is currently discouraging producers from engaging in any meaningful conversation with free trade. However, the previous week's correction that saw corn contracts for November 2022 delivery at €275 a tonne was followed by a bullish reaction that brought the price back to the €320 zone, building relative safety from the psychological level of €300. For corn silage, with the first deliveries expected in about a month, initial discussions between large units, feedlots and producers have been set by the tug of war of farmers and units. Then the buyers set the limit of 55 to 60 euros per ton, compared to the 40 to 45 euros they offered last year. However, even last August, when the corn market was at lower levels than today and those in the spring of 2022, 60 euros per ton had already been written in some operations. The farmers claimed for this year's harvest prices from 70 euros per ton, while ...

Source: GRAgronews