In the EU, the expected area of corn has been revised upwards

By: STA Date: 2024. 03. 19. 11:00

In the March projection of the International Grains Council (IGC), the 2023/2024., 2024/2025 indicates a global corn harvest of 1,233 million tons, exceeding the economic year by 0.5 percent. financial year.

(Photo: Pixabay)

The consumption could be 1,230 million tons, which would exceed the previous season by 1.5 percent. Global trade is currently expected to decrease by 1 percent to 297 million tons. The 2024/2025. by the end of the annual season, 297 million tons (+1 percent) of corn may remain in storage. In the European Union, Tallage’s experts revised the expected area of corn up by 390,000 hectares compared to a month earlier, which may exceed the year 2023 by 4.5 percent to 8.8 million hectares. Among the large producing member countries, the area may increase by 15 percent to 1.5 million hectares in France, by 3 percent to 1.2 million hectares in Poland, while in Romania it may decrease by 1 percent (to 2.4 million hectares). In Hungary, according to Tallage, the plant may cover 840,000 hectares this year.

According to AKI PÁIR data, feed corn changed hands at an average producer price of HUF 56.5 thousand/ton in the first week of March

This was 40 percent less than a year earlier. On the Budapest Stock Exchange, the May and July quotations of ISCC NUTS II sustainable fodder corn have both decreased by HUF 500 since March 4. The exchange rate for May was 59.5 thousand HUF/ton, and the exchange rate for July and November was 61.5 thousand HUF/ton on March 14. On the Chicago Mercantile Exchange, the May quotation of corn was in the range of 168-174 dollars/ton between March 4 and 15. At the same time, the June settlement price of the crop on the Paris commodity exchange was between 172 and 182 euros/ton.

AKI PÁIR