Corn Futures Experience Downturn Amid Market Shifts
Market Overview: Losses in Corn Prices
Corn futures encountered pressure on Tuesday, resulting in losses of 1 ¼ to 2 cents across all contracts. The national average Cash Corn price, as reported by cmdtyView, dropped by 1 3/4 cents to $4.04 3/4 per bushel.
Shifts in Ukraine’s Agricultural Landscape
In a notable development, Ukraine’s agricultural ministry predicts an increase of 500,000 hectares (approximately 1.24 million acres) in corn acreage for 2025. This rise is largely attributed to a reduction in soybean planting.
Brazil’s Corn Export Expectations
ANEC forecasts that Brazil will export 5.57 million metric tons of corn in November. This marks a slight increase from the previous estimate of 5.38 million metric tons. However, it reflects a decrease compared to October’s exports of 6.4 million metric tons and is nearly 2 million metric tons lower than in November 2023.
Recent Futures Prices
For December 2024, corn closed at $4.27 1/4, marking a 2-cent decrease. Meanwhile, nearby cash corn was priced at $4.04 3/4, down 1 3/4 cents. March 2025 corn closed at $4.37 3/4, also down 2 cents, while May 2025 corn closed at $4.45 1/4, a decrease of 1 1/2 cents.
On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All information provided is for informational purposes only. For more details, please review the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
