Corn Futures End Week Steady – U.S. Planting Progress and Export Sales in Focus

Corn Futures End Week Steady – U.S. Planting Progress and Export Sales in Focus

Corn futures at the CBOT closed higher on Friday for nearby deliveries, reducing weekly losses. Favourable weather forecasts for planting and solid export sales to Mexico supported the market.

---

After a volatile week, corn prices managed a slight recovery to limit weekly losses. U.S. planting progress and new export announcements stabilised sentiment. Euronext contracts also edged higher but still posted a weekly decline.

---

Market Situation & Price Development

CBOT (U.S. Market)

Delivery	Closing Price (ct/bu)	Daily Change	Weekly Change
Jul 2025	485.50	+1.50	−4.75 ct (−1.0%)
Sep 2025	445.75	+0.00	–
Dec 2025	455.75	+0.00	–

July futures recovered slightly after a challenging week.

Euronext (EU Market)

Delivery	Closing Price (EUR/t)	Daily Change	Weekly Change
Jun 2025	203.00	+0.25	−2.25 EUR (−1.1%)
Aug 2025	207.25	0.00	–
Nov 2025	204.25	0.00	–

Minor gains on Friday, but the weekly trend remained negative.

---

Key Market Drivers

• U.S. Planting Acceleration Expected:
  • Drier conditions forecast for the Midwest
  • Commodity Weather Group sees planting pace picking up
• Crop Progress & Outlook:
  • USDA report pending release today
  • Fast progress is expected compared to the 5-year average
• France Spring Planting Update (FranceAgriMer):
  • 50% of corn seeded vs. 42% 5-year average
  • Rain risks in southwest France could delay further planting
• Ukraine Planting Delay:
  • 2.0 million ha seeded as of April 24 (−17% YoY)
  • Snow and cold weather delayed planting
  • Moisture reserves are currently adequate
• U.S. Corn Exports (USDA):
  • Two large sales to Mexico:
    • 130,000 t for 2024/25
    • 130,000 t for 2025/26
• CFTC Fund Positioning (as of April 22):
  • Net-long reduced by 11,768 contracts
  • New total: 112,805 contracts
  • Funds trimmed positions during last week’s weakness
• Japan Considers Boosting U.S. Corn Imports:
  • Part of broader trade talks
  • Japan is already the second-largest U.S. corn buyer (10.09 Mt YTD)

---

14-Day Weather Trend (Key Growing Regions)

Region	Trend	Market Impact
Midwest	Drier outlook	Faster planting pace expected
France	Potential rain south	May delay further sowing locally
Ukraine	Mild, good moisture	Catch-up is possible if conditions hold

---

Corn Market Snapshot (Updated)

Indicator	Value	Trend
U.S. Ending Stocks (24/25)	1.47 billion bu	Supportive
Export Inspections (weekly)	1.702 million t	Strong
CFTC Net Long (Apr 22)	112,805 contracts	Reduced
France Planting Progress	50% seeded	Faster than average

---

Trading Recommendations & Market Assessment

• Short-term consolidation after weather- and fund-driven swings
• Watch U.S. planting data today for the next directional move
• Export flow steady, particularly to Mexico and Japan

Strategy:

• Maintain cautious positioning near-term
• Look for buy opportunities if U.S. planting progress is slower than expected or if export data remains strong

---

3-Day Price Forecast (April 29–May 1)

Market	Outlook	Comment
CBOT	Sideways	Awaiting planting data and month-end flows
Euronext	Neutral	Limited new impulses from EU side
Dalian	Stable	No significant change expected

---