📊 Market Overview: Corn Futures and Prices

Brazil is set to dominate the global corn market with a historic high harvest projected for the 2024/25 season. Favorable weather conditions and an increase in sown areas have boosted the outlook, with Brazil's National Supply Company (CONAB) estimating a production of 124.7 million metric tons, an 8.5% increase from the previous year. The United States Department of Agriculture (USDA) offers an even more optimistic forecast of 126 million tons due to expanded cultivation areas.

📈 Current Prices and Trends

📉 Market Drivers

• Record production forecasts in Brazil due to favorable weather and expanded acreage.
• Tight global stocks, particularly in Brazil, are expected to bolster prices.
• Strong domestic and international demand continues to support the market.

⛅ Weather Outlook – Key Growing Regions

Heavy rains in Mato Grosso have significantly benefited the early season crops. However, weather forecasts predict a drier period which might affect the later stages of crop development.

📈 Global Production and Stocks

Brazil's influence on the global corn market is growing, with production potentially reaching 130 million tons by the 2025/26 season. Current global stocks are tight, with Brazil's stocks at a historic low but expected to recover slightly.

🔮 3-Day Price Forecast

Given the current market dynamics, corn prices are expected to remain stable with a slight upward trend due to tight global supplies and robust demand.