Euronext Corn Market: Stable Performance Across Contracts

The Euronext corn market showed stability on 07 January 2025, with no significant price changes across all contracts. Trading activity was muted, and prices remained unchanged from the previous close.

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Key Highlights

• March 2025 Contract:The March 2025 contract remained steady at 210.75 EUR/t, with minimal trading activity reflected in a volume of 6 trades. The open interest stood at 21,016, indicating ongoing market interest in near-term delivery.
• June 2025 Contract:The June 2025 contract also held firm at 218.00 EUR/t, with a slightly higher volume of 9 trades and an open interest 11,585.
• August 2025 Contract:The August 2025 contract remained at 222.50 EUR/t. Only 1 trade was executed for this contract, with an open interest of 1,509, reflecting lower activity in the medium term.
• November 2025 Contract:The November 2025 contract closed unchanged at 216.25 EUR/t, with no trades reported and an open interest of 657.
• 2026 and 2027 Contracts:Longer-term contracts for 2026 and 2027 stayed at 208.50 EUR/t, with no trading activity reported. Open interest for these periods was minimal, indicating limited market engagement for far-term deliveries.

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Market Observations

• Flat Trading: The lack of price movement indicates a steady market with no major external drivers influencing prices. This could be attributed to stable weather conditions and a lack of new developments impacting supply or demand.
• Higher Activity in Near-Term Contracts: Open interest was significantly higher for near-term contracts, particularly March 2025 and June 2025, reflecting a focus on immediate market dynamics.
• Low Engagement in Long-Term Contracts: Contracts for 2026 and beyond saw no trading activity, signalling limited interest in longer-term market exposure.

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Outlook

The stable performance across all contracts suggests a wait-and-see approach from traders, likely awaiting clearer signals from global corn markets or developments in key regions such as South America and Eastern Europe. Near-term contracts continue to attract the majority of trading interest, while long-term positions remain subdued.

The market remains poised for potential shifts as weather patterns in Argentina and Brazil evolve and demand dynamics, particularly from major importers like China and Mexico, unfold.

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