Corn breaks the $4 floor in Chicago with a robust crop

The international corn market continues to be pressured by the good condition of North American crops. On the Chicago Board of Trade (CBOT), the first-month contracts returned to trading below the psychological barrier of US$ 4.00/bushel. On July 23, they reached US$ 3.98 and closed on Thursday (July 24) at US$ 4.01/bushel, down from US$ 4.02 the previous week. According to the International Center for Economic Analysis and Agricultural Market Studies – CEEMA, 74% of corn crops in the United States are in good to excellent condition. Only 6% of the crops are classified as poor or very poor. This reality is ensuring a scenario of higher global supply, putting pressure on prices. Despite the good condition in the fields, U.S. shipments were below expectations in the week ending July 17. 983.6 thousand tons were exported, a number that, although weak, still guarantees an annual performance 29% higher than that recorded in the same period of 2024. Demand, however, remains a factor to ...