Global corn market weekly review on September 17, 2024

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 ...