Corn Futures Slip Amid Global Weather Concerns and Farmer Sales
CBOT corn futures closed lower on Thursday. The March contract fell by 2.25 ct to 476.50 ct/bu (approximately 182.3 EUR/t). Euronext also saw losses, with the March contract down by 1.00 EUR to 212.75 EUR/t.
CBOT: Corn Prices Under Pressure
CBOT corn futures declined on Thursday. The March 2025 contract dropped by 2.25 ct/bu (-0.47%) to close at 476.50 ct/bu (approximately 182.3 EUR/t). Other contracts also recorded losses:
| Contract | Closing Price (ct/bu) | Change | % |
|---|---|---|---|
| March 25 | 476.50 | -2.25 | -0.47 % |
| May 25 | 484.75 | -3.25 | -0.67 % |
| July 25 | 488.00 | -4.00 | -0.81 % |
The price decline was driven by farmer sales, triggered by the recent high price levels, and profit-taking by funds.
Euronext: Continued Declines
Euronext corn futures also posted losses. The March 2025 contract fell by 1.00 EUR (-0.47%) to 212.75 EUR/t, while the June 2025 contract dropped by 0.75 EUR to 218.50 EUR/t.
| Contract | Closing Price (EUR/t) | Change | % |
|---|---|---|---|
| March 25 | 212.75 | -1.00 | -0.47 % |
| June 25 | 218.50 | -0.75 | -0.34 % |
| November 25 | 216.25 | -0.75 | -0.35 % |
Global Developments Weigh on Markets
The Rosario Grain Exchange reduced its forecast for Argentina’s 2024/25 corn harvest to 48 million tons (previously 50–51 million tons), citing ongoing drought conditions combined with extremely high temperatures.
Meanwhile, EIA data from the U.S. revealed a decline in ethanol production by 7,000 barrels per day to 1.095 million barrels per day, while inventories rose by 860,000 barrels to 25.008 million barrels.
Outlook
With continued pressure from farmer sales and global uncertainties such as Argentina’s drought, corn markets remain volatile. The USDA’s export sales report, expected today, could provide further insight into international demand.
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