Corn Futures Hold Firm Despite Weak Commodity Sentiment – U.S. Planting Progress Supports Market
➡ Corn Futures Hold Firm Despite Weak Commodity Sentiment – U.S. Planting Progress Supports Market
Corn prices changed a little on Monday, as the market held up relatively well compared to wheat and soybeans. Wet weather and planting progress in the U.S. helped limit losses.
U.S. corn contracts closed Monday with only minor changes. Despite broader commodity weakness, the corn market found support in wet U.S. weather forecasts and a softer dollar. In Europe, Paris contracts ended the week on mixed footing, with early delivery futures gaining slightly.
Corn prices changed a little on Monday, as the market held up relatively well compared to wheat and soybeans. Wet weather and planting progress in the U.S. helped limit losses.
U.S. corn contracts closed Monday with only minor changes. Despite broader commodity weakness, the corn market found support in wet U.S. weather forecasts and a softer dollar. In Europe, Paris contracts ended the week on mixed footing, with early delivery futures gaining slightly.
📈 Market Situation & Price Development
🇺🇸 CBOT (U.S. Market)
➡ Despite market pressure, nearby contracts remained steady.🇪🇺 Euronext (EU Market)
➡ Slight gain in early delivery contract, market remains cautious.🔍 Key Market Drivers
- 🌧 U.S. Weather Conditions:
- Continued rainfall in the Midwest is delaying corn planting
- May lead to acreage shifts toward soybeans if delays persist
- 📊 Crop Progress (as of April 20):
- 12% of the corn area is planted
- Ahead of the 5-year average (10%) and analyst expectations
- Weekly progress: +8 percentage points
- 📦 USDA Export Inspections (week ending April 17):
- 1.702 million tons shipped
- −-7 % vs. previous week, +2.5% YoY
- Largest weekly figure for this time of year since 2018
- Top buyers: 🇲🇽 Mexico (490,398 t), 🇯🇵 Japan (437,602 t), 🇰🇷 South Korea (206,613 t)
- Season total: 39.22 million tons (+29% YoY)
- 📈 CFTC Positioning (as of April 15):
- Net-long increased by 70,997 contracts
- New total: 124,573 contracts
- Shows strong investor confidence post-WASDE
☁️ 14-Day Weather Trend (Key Growing Regions)
🌍 Corn Market Snapshot
💡 Trading Recommendations & Market Assessment
- ⚖️ Stable outlook short term despite broader market pressure
- 📈 Planting progress supports fundamentals, especially if the weather worsens
- 💵 Weaker dollar keeps U.S. corn competitive globally
- Maintain long bias in July delivery contracts
- Monitor updated forecasts and USDA export sales on Thursday
- Watch for positioning shifts ahead of month-end
🔮 3-Day Price Forecast (April 23–25)
