The cost of corn decreased by EUR 3.25 per ton

On October 16, Euronext, the first pan-European exchange, showed a slight increase in wheat prices and a sharp decline in corn prices under the nearest contract.

This is reported by the Agritel analysts.

It is noted that corn prices fell by EUR 3.25 per ton in the context of increasing the competitiveness of Ukrainian grain due to the reduction of the import tax in the EU.

At the moment, in France the conditions for sowing campaign remain favorable due to the lack of precipitation. The same situation is observed in the east of Europe, however, the vegetative development of crops may not be sufficient until winter. Harvesting of corn is progressing in France. Analysts note that the yield is at a good level, as a result, production is expected to be above 13 million tons.

In the international market the USA sold 227.3 thousand tons of soybeans in unknown direction. It is also reported that Algeria buys 50 thousand tons of soft wheat for delivery within 1–15 January.