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Michael

Jan 16, 2025

Corn Futures Slip Amid Global Weather Concerns and Farmer Sales

Corn Futures Slip Amid Global Weather Concerns and Farmer Sales

Corn Futures Slip Amid Global Weather Concerns and Farmer Sales

CBOT corn futures closed lower on Thursday. The March contract fell by 2.25 ct to 476.50 ct/bu (approximately 182.3 EUR/t). Euronext also saw losses, with the March contract down by 1.00 EUR to 212.75 EUR/t.




CBOT: Corn Prices Under PressureCBOT corn futures declined on Thursday. The March 2025 contract dropped by 2.25 ct/bu (-0.47%) to close at 476.50 ct/bu (approximately 182.3 EUR/t). Other contracts also recorded losses:

The price decline was driven by farmer sales, triggered by the recent high price levels, and profit-taking by funds.

Euronext: Continued DeclinesEuronext corn futures also posted losses. The March 2025 contract fell by 1.00 EUR (-0.47%) to 212.75 EUR/t, while the June 2025 contract dropped by 0.75 EUR to 218.50 EUR/t.

Global Developments Weigh on MarketsThe Rosario Grain Exchange reduced its forecast for Argentina's 2024/25 corn harvest to 48 million tons (previously 50–51 million tons), citing ongoing drought conditions combined with extremely high temperatures.

Meanwhile, EIA data from the U.S. revealed a decline in ethanol production by 7,000 barrels per day to 1.095 million barrels per day, while inventories rose by 860,000 barrels to 25.008 million barrels.

OutlookWith continued pressure from farmer sales and global uncertainties such as Argentina’s drought, corn markets remain volatile. The USDA’s export sales report, expected today, could provide further insight into international demand.

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