Global corn market weekly review, October 22

The weather Climatic conditions in Brazil and Argentina remain favorable for the progress of sowing campaigns in both countries. Rainy weather has eased drought in some key regions, with corn planted at 24.3% of projected areas in Argentina and the first crop in Brazil reaching 29%. Although parts of the US "corn belt" will receive rain during the week, no significant delay in the harvest campaign is expected nationwide. In Western Europe, and in particular France, the weather will again pose challenges for the harvest, which is 54% behind on a year-on-year basis. Highlights from global markets Significant rains in Brazil and Argentina, record fast harvest rates and strong export sales in the US are putting pressure on WTO corn quotes, which inevitably affects MATIF as well. November futures posted their first weekly loss since mid-September, losing €3.5/t to €211.5/t on Friday, despite a slow French corn harvest becoming more pronounced. According to data from ...