Global corn market weekly review on November 12, 2024

Published Nov 12, 2024

Tridge summary

The article provides an overview of the current state of the agricultural harvest and market trends for corn across various regions. It highlights favorable weather conditions for harvesting in the US, France, and South America, with some regions experiencing increased rainfall. The market reports show a firmness in MATIF corn prices, despite the euro's weakness, and a reduction in EU production forecasts. The USDA's lower production estimates for the US, alongside stable production figures from major South American and Asian countries, have led to a decrease in global maize stocks predictions for the 2024/25 season. Additionally, the article covers the dynamics of corn exports from Brazil, Ukraine, and Russia to various countries, including a decrease in exports from Brazil and Turkey as the largest importer of Ukrainian corn. The article also discusses the impact of these trends on US corn production and ending stocks, suggesting that these developments could influence prices based on economic conditions and international demand.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Weather The weather will remain mostly favorable for the finalization of the US harvest, which as of November 5 was 91% complete. Favorable conditions for the progress of the harvest will also be observed in France. In South America, major production regions in Brazil and Argentina will enjoy significant rainfall during the week. The rains that started at the end of last week, mainly in Eastern Bulgaria, will continue in the coming days. Weather models are conflicting in terms of amounts and range, but overall the most significant rains are forecast for Eastern and Central Bulgaria. Highlights from the world markets MATIF corn is characterized by firmness during the week, with the leading March contract maintaining values around €210/t. Despite the weakness of the euro and the good performance of WTO corn, the one in Paris failed to follow suit. Obviously, the new USDA estimate lowering EU production by 0.2 million tons to 58.8 million tons fails to provide much support for the ...
Source: Agroportal

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.