Global corn market weekly review on July 30

Published Jul 30, 2024

Tridge summary

The Black Sea region saw mostly dry weather with some isolated showers, while Western Europe experienced continued precipitation. In the US, rain is forecasted for the corn belt, affecting markets. CBOT corn prices were pressured by improved US weather and demand concerns but ended the week with gains. Corn conditions improved in the US and France, though the EU forecasted a drop in production. Argentina's corn harvest is nearly complete, and Brazil's second crop harvest is ahead of last year. South Africa is recovering from a drought-induced low yield, and Ukrainian corn exports have increased, with Spain as the main importer. Ukrainian old-crop corn offers remain steady, but hot and dry weather is impacting new harvest forecasts, causing farmers to delay sales.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Weather The Black Sea region remained mostly dry over the weekend, with isolated showers forecast in some regions over the next few days, which unfortunately will not be widespread. Temperatures are also expected to return to the highs that have caused great stress to crops over the past few weeks. Nothing new for Western Europe, where precipitation will continue this week. The weather in Brazil and Argentina will be favorable for the completion of the harvest campaigns. In the US, rain is predicted for the corn belt, which weighed on the markets as well. Global Market Highlights CBOT corn has come under pressure from an improved US weather forecast and long-term demand concerns, but despite the decline, December futures managed to end the week with gains. U.S. corn condition improved 1% weekly to 68% in good and excellent condition. FranceAgriMer also reported an improvement in maize conditions in France, with crops in good and excellent condition reaching 82%, up 1% from the ...

Source: Agroportal