Pressure Mounts on Corn Futures Amid Market Adjustments
Corn futures are facing some challenges this Tuesday as trading sessions progress through midday. Current contracts show minor declines across the board. The national average Cash Corn price, according to cmdtyView, has slipped by 1/2 cent to $4.05 per bushel.
Ukraine Plans Expansion in Corn Acreage
Ukraine’s agricultural ministry anticipates an increase in corn planting for 2025, projecting an addition of 500,000 hectares (or 1.24 million acres), mainly due to a reduction in soybean fields.
Brazil’s Corn Export Forecast for November
The Brazilian government agency ANEC estimates that corn exports will reach 5.57 million metric tons (MMT) in November, a slight rise from the previous forecast of 5.38 MMT. However, this figure is lower than October’s exports, which stood at 6.4 MMT, and nearly 2 MMT less than exports from November 2023.
Current Corn Futures Prices
Dec 24 Corn is priced at $4.28 1/2, down 3/4 cent.
Nearby Cash is at $4.05, down 1/2 cent.
Mar 25 Corn is trading at $4.39 1/4, down 1/2 cent.
May 25 Corn stands at $4.46 3/4, unchanged from previous values.
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
