Corn Futures See Modest Gains at CBOT
Corn futures at the CBOT showed modest gains on Friday, with the March contract rising by 3.50 ct to 478.00 ct/bu (approximately 182.8 EUR/t). Stable export demand and technical buying supported the market.
CBOT: Corn Prices Rebound
Corn futures at the Chicago Board of Trade (CBOT) closed higher on Friday. The March 2025 contract gained 3.50 ct/bu (+0.74%) to close at 478.00 ct/bu (approximately 182.8 EUR/t). Other key contracts also posted gains:
| Contract | Closing Price (ct/bu) | Change | % |
|---|---|---|---|
| March 25 | 478.00 | +3.50 | +0.74 % |
| May 25 | 486.50 | +3.50 | +0.72 % |
| July 25 | 489.25 | +3.25 | +0.67 % |
| September 25 | 456.50 | +1.50 | +0.33 % |
| December 25 | 454.50 | +1.75 | +0.39 % |
Key Drivers:
- Technical Buying: After Thursday’s losses, technical buying supported prices, helping to sustain the bullish trend.
- Strong Export Demand: USDA data for the week ending January 9 showed 1.024 million tons of corn sold, exceeding market expectations of 500,000 to 1 million tons.
- Global Production Outlook: The International Grains Council’s recent reduction of the global corn production estimate for 2024/25 continues to underpin the market.
Euronext: Stable Corn Prices
Corn prices at Euronext remained unchanged on Friday, with the March 2025 contract closing at 212.50 EUR/t. The market remains cautious amid ongoing developments in Argentina and the U.S. export outlook.
Outlook:
Corn markets remain supported by strong demand and global production concerns. Weather improvements in Argentina may ease pressure in the short term, but the overall sentiment is still driven by tightening global supplies and robust export activity.
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