Corn Markets Mixed – CBOT Slightly Lower, Euronext Stable

Corn markets showed mixed performance on Tuesday. While CBOT futures posted slight losses, Euronext prices remained steady. South American weather conditions and strong export demand continue to dominate the market narrative.

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CBOT: Slight Declines After Strong GainsCorn futures at the Chicago Board of Trade (CBOT) ended Tuesday’s session slightly lower. The March 2025 contract fell by 1.75 ct/bu (-0.36%) to close at 488.25 ct/bu (approximately 187 EUR/t). Other nearby contracts also retreated modestly:

Euronext: Stable Corn PricesCorn futures at Euronext showed no significant movement. The March 2025 contract closed unchanged at 216.25 EUR/t, with other contracts also remaining steady:

Key Drivers:

1. Technical Correction: After recent gains, profit-taking at CBOT led to slight declines in corn futures.
2. South American Weather Conditions:
   • Argentina: Rainfall over the weekend was insufficient to alleviate drought concerns in key growing areas.
   • Brazil: Excessive rainfall in Mato Grosso is delaying the soybean harvest, which could negatively impact the planting of Safrinha corn.
3. Strong Export Demand: USDA data showed 1.54 million tons of corn were exported in the week ending January 16, exceeding market expectations and more than double the volume from the same week last year.

Outlook:Corn prices remain supported by global supply uncertainties, particularly in Argentina and Brazil, while strong export demand continues to stabilize the market. Traders will closely monitor upcoming USDA reports and South American weather forecasts for further direction.

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