U.S. Corn Futures Hit Multi-Month Lows – Rapid Planting and South American Supply Pressure Market
➡ U.S. Corn Futures Hit Multi-Month Lows – Rapid Planting and South American Supply Pressure Market
Corn prices collapsed on Monday as fast U.S. planting progress and upward crop revisions from Brazil drove prices to new multi-month lows. Euronext futures followed suit, falling sharply.
The corn market extended its downward slide at the start of the week. Despite strong weekly export shipments, improved global supply outlooks and planting progress in the U.S. weighed on. Euronext mirrored the pressure from CBOT, with early delivery contracts posting notable losses.
Corn prices collapsed on Monday as fast U.S. planting progress and upward crop revisions from Brazil drove prices to new multi-month lows. Euronext futures followed suit, falling sharply.
The corn market extended its downward slide at the start of the week. Despite strong weekly export shipments, improved global supply outlooks and planting progress in the U.S. weighed on. Euronext mirrored the pressure from CBOT, with early delivery contracts posting notable losses.
📈 Market Situation & Price Development
🇺🇸 CBOT (U.S. Market)
➡ The July contract fell to its lowest level in months, pressured by planting data.🇪🇺 Euronext (EU Market)
➡ European contracts followed U.S. futures lower on global oversupply concerns.🔍 Key Market Drivers
- 🌱 U.S. Planting Progress (as of May 4):
- 40% of corn area planted, 1 pp above 5-year average
- Analysts expected 41%
- Emergence at 11% (vs. 5-year avg. of 9%)
- The weather outlook remains favourable, though brief rains are creating ideal soil conditions
- 🇧🇷 Brazil Crop Raised Again (Celeres):
- New forecast: 135.4 Mt, up from 134.6 Mt
- Improved rainfall benefits the Safrinha crop
- 📦 USDA Export Inspections (week ending May 1):
- 1.61 million tons exported
- −3.5% vs. the previous week, but +24% vs. the same week 2024
- Leading buyers: 🇲🇽 Mexico (557,095 t), 🇯🇵 Japan (433,524 t), 🇨🇴 Colombia (165,983 t)
- Season total: 42.515 Mt (+29% YoY)
☁️ 14-Day Weather Trend (Key Growing Regions)
🌍 Corn Market Snapshot (Updated)
💡 Trading Recommendations & Market Assessment
- 🔻 Short-term pressure remains as fundamentals weigh heavily
- 🌱 Fast planting pace and improving global crops undermine support
- 📈 Exports remain solid, but not enough to offset oversupply fears
- Avoid long positions near-term unless technical support holds
- Consider reentry if planting slows or if export sales surprise on Thursday
- Monitor upcoming WASDE (next week) for global supply revisions
🔮 3-Day Price Forecast (May 7–9)
