The corn market finds itself at a pivotal intersection as the 2025 harvest season advances. According to the latest USDA data, corn harvesting is 18% complete—slightly slower than last year, yet nearly on par with the five-year average. While crop quality remains robust, with 66% rated good to excellent, persistent weather fluctuations across key U.S. producing states prevent the market from getting too comfortable. Physically, the market is weighed down by moderately weak prices. Ukrainian corn (FCA Odesa) trades at 0.24 EUR/kg, reflecting a narrow slip from last week, while French yellow corn remains stable at 0.22 EUR/kg (FOB Paris). Other origins such as Argentina and India post steady to slightly lower values. Prices are being set against a backdrop of near-normal U.S. maturity rates, strong South American competition, and ongoing U.S. wheat sowing which may minimally influence corn acreages next year.
On the horizon, weather risks remain: forecasts indicate patchy rains and temperature swings for key U.S. Belt states, possibly affecting remaining fieldwork and early 2026 planting intentions. European producers watch closely, too, as French and Ukrainian export quantities grow pivotal for global balance sheets. For traders and industry professionals, that means managing risk around seasonal trends and operational bottlenecks. Read on for prices, market drivers, crop fundamentals, weather analysis, and actionable trading outlooks for the corn market.
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📈 Corn Market Prices Overview
| Product | Origin | Location | Delivery Terms | Latest Price (EUR/kg) | Weekly Change | Market Sentiment |
|---|---|---|---|---|---|---|
| Corn (yellow, feed grade, 14.5% max moisture) | Ukraine | Odesa | FCA | 0.24 | -0.01 | Bearish |
| Corn (yellow) | France | Paris | FOB | 0.22 | 0.00 | Neutral |
| Corn (starch, organic) | India | New Delhi | FOB | 1.93 | -0.02 | Bearish |
| Corn (yellow) | Ukraine | Odesa | FOB | 0.19 | 0.00 | Stable |
| Popcorn | Brazil | Dordrecht, NL | FCA | 0.75 | 0.00 | Neutral |
| Popcorn (expansion, 40/42) | Argentina | Buenos Aires | FOB | 0.82 | 0.00 | Neutral |
🌍 Supply & Demand Drivers
- USDA Progress: 18% of U.S. corn fields have been harvested (slightly behind 2024, but near 5-year average).
- Crop Condition: 66% in good/excellent condition, 24% fair, 10% poor.
- Maturity Rates: 95% of U.S. corn has reached maturity, trailing slightly last year.
- Global Competition: Large Ukrainian and French supplies support buyer leverage and cap rallies.
- Winter Wheat Sowing: 28% of U.S. acreage planted (slower than avg.), could shift marginal acreage into or away from corn next year.
- Speculative Positioning: Funds remain short for CBOT corn, dampening bullish enthusiasm.
📊 Corn Market Fundamentals
| USA | Ukraine | EU | |
|---|---|---|---|
| 2025 Harvest (% Complete) | 18% | Ongoing | Ongoing |
| Corn Condition (Good/Excellent) | 66% | 55%* | 58%* |
| Top Exporters’ Inventory (est.) | Medium-High | High | Medium |
| Global End-users Stocks | Stable | Building | Declining |
*Estimates based on regional reports.
⛅ Weather Outlook
- Midwest USA: Scattered showers and cooler temperatures forecast over the next 5–7 days. Potential to slow remaining harvest but improve soil moisture for wheat.
- Black Sea (Ukraine): Dry-to-normal weather expected; supports ongoing harvest and exports but possible yield losses in dry areas.
- France: Mild precipitation and average temperatures aid late corn development and sowing of winter crops.
📌 Key Insights & Drivers to Watch
- Harvest lag in the U.S. is limited, but watch for weather delays.
- Strong competition from Ukraine and France keeps pressure on export prices.
- US winter wheat sowing rates may shift future planting intentions for corn.
- Corn condition remains adequate but could deteriorate with more adverse weather.
- Speculative funds’ net shorts on futures keep CBOT pricing tepid.
💡 Trading Outlook & Recommendations
- Consider short hedges on excess old-crop stocks until U.S. harvest accelerates.
- Monitor Black Sea logistics and early reports from Brazil for 2026 crop cues.
- Buyers: Use current price softness to lock physical supply through Q4 2025.
- Exporters: Guard against further price drops—incremental sales are preferred.
- Traders: Watch for funds’ position shifts as weather and harvest data update.
📆 3-Day Regional Price Forecast
| Exchange/Origin | Price Today (EUR/kg) | 3-Day Price Forecast (EUR/kg) | Trend |
|---|---|---|---|
| CBOT (US Gulf FOB) | ~0.20* | 0.20 – 0.21 | Stable to slightly higher |
| Paris MATIF (FOB) | 0.22 | 0.22 | Stable |
| Odesa (FCA/FOB) | 0.24 / 0.19 | 0.19 – 0.24 | Stable |
*CBOT price estimated in EUR (exchange rates may vary).