According to VITIC, the price of corn in Chicago on August 15, 2019 increased for the first time in four sessions due to buying activities, but the increase was limited by the expected rain throughout Central West America.
It is forecasted that rain in the key growing area of Midwest America in the coming weeks puts pressure on the corn market. USDA unexpectedly raised the corn production forecast, putting pressure on the market.
The wheat harvest in the largest EU producers is about to end, but rain in recent weeks has caused quality concerns in some areas to decline.
The harvest in France, Germany and Poland is close to ending but the rain interrupts the pace of harvest in the UK.
German wheat exporters are seeking to enter new markets including China, Mexico and Indonesia, following signs that Saudi Arabia is about to open imports from Russia.
Saudi Arabia is Germany's largest wheat export market in recent years, but German companies face tougher competition after SAGO Saudi said it would loosen the technical specifications. quantity for wheat imports from the next auction.
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