Global corn market weekly review on November 26

Published Nov 26, 2024

Tridge summary

Argentina is set to receive significant rainfall over the next seven days, potentially slowing its sowing campaign but increasing the proportion of areas with good to excellent ratings and adequate water conditions. In France, favorable weather is expected to boost the stalling harvest campaign. The global market is experiencing a price increase in MATIF corn, but a decrease in EU corn crop estimates are balanced by increases in global production and US corn crop estimates. Ukraine's corn harvest is progressing well despite a dry summer, and the country may increase its corn export quota. Turkey is considering raising its corn import quota, as current imports have already reached 70% of the current quota and are expected to meet the remaining demand in the current year.

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

Original content

Weather Argentina will receive significant rainfall over the next seven days, exceeding 150 l/m² in places. This will slow the sowing campaign, which has advanced by 0.8% to 39.4% of an estimated 6.3 million. hectares per week until November 20. The campaign is ahead of last year's pace by 13.2%. Areas rated good to excellent increased over the week to 31%, and those with adequate to optimal water conditions increased 2 percentage points to 84%. With the forecasted rainfall, this share is likely to grow further in the next reporting period. In France, the weather will be favorable for the lagging harvest campaign. It is expected to advance by at least ten percentage points in the next seven days. Global market highlights MATIF corn managed to realize a modest weekly price increase of €1 to €211.25/t for the top March futures. The weakness in the market is due to both the mostly dry weather forecasts that will support the lagging harvest in France and the firmness of the WTO ...

Source: Agroportal