The price of fodder corn rose by 16 percent

By: STA Date: 2024. 09. 03. 09:00

The European Union’s corn harvest will not be abundant in 2024, currently around 60 million tons are indicated, which would be 4 percent lower than the year before and 5 percent lower than the five-year average. In France, 14.3 million tons of crops (+11 percent) can be harvested, while in Romania, the output may decrease by 27 percent to 8.09 million tons.

(Photo: Pixabay)

A harvest of 7.6 million tons (-13 percent) is projected in Poland, 4.3 million tons (-16 percent) in Italy, while in Germany they can harvest 15 percent more, 5.1 million tons of corn. Based on information from the Ministry of Agriculture at the end of July, Hungary’s corn crop could be around 5.8 million tons this year. According to AKI PÁIR data, feed corn changed hands at an average producer price of HUF 76.4 thousand/ton in the fourth week of August, which exceeded the previous year by 16 percent. On the Budapest Stock Exchange, the November listing of ISCC NUTS II sustainable fodder corn was unchanged at HUF 73,000/ton between August 21 and 30. The September quotation of corn on the Chicago Mercantile Exchange was in the range of 143-149 dollars/ton between August 19 and 30. At the same time, the November settlement price of the crop on the Paris commodity exchange was between 189 and 199 euros/ton.