Corn Market Sees Positive Movement Amid Global Developments

On Tuesday, the corn market showed signs of recovery, with most nearby contracts closing 2 to 4 cents higher. The national average cash corn price from cmdtyView climbed by 3 cents to settle at $4.50 3/4.

The USDA also announced a private export sale of 132,000 MT of corn to South Korea for the 2024/25 shipping period, signaling ongoing international demand.

In Brazil, CONAB reports that the second corn crop is only 1.4% complete, noticeably trailing last year’s progress of 10.3%. Meanwhile, ANEC has revised its forecast for Brazilian corn exports in January to 3.35 MMT, which is 180,000 MT lower than earlier predictions. This new estimate reflects a decline of 25.17% from December and a striking 47.46% drop compared to January 2024.

In Argentina, Dr. Michael Cordonnier has lowered the corn crop estimate by 1 MMT to a total of 47 MMT.

Mar 25 Corn closed at $4.85 1/4, reflecting an increase of 3 1/4 cents.

Nearby Cash was priced at $4.50 3/4, up 3 cents.

May 25 Corn closed at $4.96, which represents a rise of 3 3/4 cents.

Dec 25 Corn finished at $4.61, gaining 2 3/4 cents.

New Crop Cash increased to $4.31, up 2 1/2 cents.

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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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