Corn Ends Week Mixed – U.S. Weather Pressures Chicago, EU Crop Worries Lift Paris Prices
➡ Corn Ends Week Mixed – U.S. Weather Pressures Chicago, EU Crop Worries Lift Paris Prices
Corn futures in Chicago closed lower on Friday, weighed down by strong planting weather across the Corn Belt. In contrast, European contracts rose, supported by tightening EU yield prospects and a nearly completed French planting season.
Despite Friday’s slight gains in early U.S. trading, CBOT corn posted a weekly loss for July futures. Continued planting progress and fund-driven pressure dominated market sentiment. Euronext gained further, driven by regional weather risks and supply uncertainty.
Corn futures in Chicago closed lower on Friday, weighed down by strong planting weather across the Corn Belt. In contrast, European contracts rose, supported by tightening EU yield prospects and a nearly completed French planting season.
Despite Friday’s slight gains in early U.S. trading, CBOT corn posted a weekly loss for July futures. Continued planting progress and fund-driven pressure dominated market sentiment. Euronext gained further, driven by regional weather risks and supply uncertainty.
📈 Market Situation & Price Development
🇺🇸 CBOT (U.S. Market)
➡ July contract remained under pressure, unable to break resistance despite strong export demand.🇪🇺 Euronext (EU Market)
➡ Paris prices rose on tightening EU yield forecasts and near-completion of French planting.🔍 Key Market Drivers
- 🌤 U.S. Weather Outlook:
- More rain is expected next week across the Corn Belt
- Planting may slow slightly in the east, but overall weather remains favourable
- Soil moisture supports strong emergence
- 🇫🇷 France Planting Status (FranceAgriMer):
- 90% of corn planted by May 12
- 11 pp progress week-on-week
- Conditions rated 88% good-to-excellent, down 3 pp from last week
- 🇪🇺 EU Crop Outlook (Strategie Grains):
- EU corn harvest cut from 60.1 Mt → 59.9 Mt
- Drought risk rising in parts of central & southern Europe
- Euronext supported by tightening outlook
- 📉 CFTC Fund Positioning (May 13):
- Funds moved from long to short
- New net short: −84,976 contracts
- Weekly net sell: −98,869 contracts
- Indicates aggressive repositioning on bearish sentiment
☁️ 14-Day Weather Trend (Key Growing Regions)
🌍 Corn Market Snapshot (Post-CFTC, Week 20)
💡 Trading Recommendations & Market Assessment
- ⚠️ CBOT remains under pressure from weather and fund flows
- 🔼 Euronext supported by regional supply fears and technical levels
- 📦 Export demand steady, but sentiment overshadowed by U.S. fundamentals
- Favour long exposure in Euronext over CBOT short term
- Monitor CBOT July for support near 440 ct/bu
- Expect volatility into June as planting nears completion