Corn Market Falls Sharply – U.S. Planting Accelerates, Global Pressure Weighs on Prices
➡ Corn Market Falls Sharply – U.S. Planting Accelerates, Global Pressure Weighs on Prices
U.S. corn futures plunged on Tuesday as planting moved ahead faster than expected. Global commodity weakness and improved South American crop outlooks added to the bearish sentiment.
Corn prices at the CBOT dropped sharply, with the July contract hitting a two-week low. Despite earlier rain, U.S. planting is progressing quickly, easing concerns over delays. Euronext contracts followed the downward trend, as improved weather and global economic concerns pressured markets.
U.S. corn futures plunged on Tuesday as planting moved ahead faster than expected. Global commodity weakness and improved South American crop outlooks added to the bearish sentiment.
Corn prices at the CBOT dropped sharply, with the July contract hitting a two-week low. Despite earlier rain, U.S. planting is progressing quickly, easing concerns over delays. Euronext contracts followed the downward trend, as improved weather and global economic concerns pressured markets.
📈 Market Situation & Price Development
🇺🇸 CBOT (U.S. Market)
➡ Broad-based losses across maturities, driven by planting optimism and market sentiment.🇪🇺 Euronext (EU Market)
➡ Paris contracts continued to slide as planting progressed rapidly in France and Ukraine’s delays eased.🔍 Key Market Drivers
- 🌱 U.S. Planting Progress Accelerates:
- Despite recent rainfall, planting is ahead of the 5-year average
- Conditions improving in key states: Iowa, Nebraska, Illinois
- USDA data: 12% planted vs. 10% avg.
- 🛰 Commodity Weather Group Outlook:
- Next 2 weeks: below-average rainfall
- Ideal for planting → bearish for short-term prices
- 🇧🇷🇦🇷 South America Crop Revisions:
- Analyst Michael Cordonnier raised forecasts:
- Brazil: ↑ +3 Mt → 125 Mt
- Argentina: ↑ +2 Mt → 48 Mt
- Analyst Michael Cordonnier raised forecasts:
- 📉 Macro Pressure:
- Weak U.S. economic indicators
- Lower crude oil, wheat, and soybean prices weighed on corn
- 🚢 USDA Export Flash Sales (April 30):
- 120,000 t sold to 🇪🇸 Spain (2024/25 delivery)
- First large daily corn sale since mid-April
- 🛢 E15 Fuel News:
- U.S. administration authorises nationwide sale of E15 ethanol fuel
- No market reaction – already priced in, demand effect uncertain
☁️ 14-Day Weather Trend (Key Growing Regions)
🌍 Corn Market Snapshot (Updated)
💡 Trading Recommendations & Market Assessment
- 🔻 Downtrend accelerated by better U.S. weather and global fundamentals
- ⚠️ Macro risk and fund activity could extend correction
- 🧭 Exports and new planting data critical in coming days
- Reduce long exposure short-term
- Watch for rebound if exports surprise or weather changes
- Re-enter cautiously if July stabilizes above technical support (≈468 ct)
🔮 3-Day Price Forecast (May 1–3)
