Aug. 10 at 6:21 AM
Why is corn soaring in Europe but not the US?
Euronext corn hits record highs above €250/ton. Chicago sits at
$4.40-
$4.50. Europe faces a genuine supply shock: France crop cut ~30% to 9.4-9.5 MMT, EU total 52.7 MMT (lowest since 2007). US expects 182.4 bu yield and 15.9B bushels. Exports +23%. Spain buys US corn. EU imports raised to 22.5 MMT. Watch Aug 12 WASDE and the Paris-Chicago spread.
$ADM $BG $CTVA #Corn #Agriculture #Commodities #Grain