Corn price in Chicago, Tuesday, October 11
For its part, corn fell 0.8% and positioned himself in u$s272.83 the ton.
Wheat price in Chicago, Tuesday, October 11
The wheat fell 4.1% and positioned himself in u$s331.05 the ton, although the more distant positions concluded the session higher.
The French Ministry of Agriculture cut its corn production forecast on Tuesday in grain by 2022 and went to 11.15 million tons from 11.33 million. This directly affected exports from the European Union, given France’s participation in this activity. Sales from the continent accumulated between July and October 9.81 million tons, which represents a drop from 10.02 million tons in the previous campaign.
The imports from the region, meanwhile, stood at 7.88 million tons. The list of the top five corn suppliers showed that imports of corn from Ukraine had increased by 245,000 tons last week to 2.87 million tons, more than triple the 800,000 tons imported at the same time last week. last year.
Russia, for its part, said this Tuesday that it analyzes the possibility of suppressing the export quota earmarked for the second half of the export season. The Eurasian giant is the world’s leading wheat exporter, supplying mainly Africa and the Middle East.
“The crop is big, so in principle probably yes, there are no requirements to impose any quantitative restrictions at the moment,” he said. Viktoria Abramchenkoresponsible for the agricultural sector in the Government, according to Interfax.
According to the President’s forecasts Vladimir PutinRussia is on its way to reap a record grain harvest of 150 million tons -including 100 million tons of wheat-, in 2022.
The effect of the drought has, in addition to its impact on the old continent, local level where 50% of the wheat area is already affected.
Source: Ambito
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