The May supply and demand report by WASDE has revised down the global maize production, exports, and stocks forecasts for the 2024/25 marketing year, while increasing the consumption projections, resulting in higher price quotes. The report also adjusted the corn harvest expectations for Brazil and Argentina, with Brazil now projected to harvest 2 to 122 million tonnes less and Argentina 2 to 53 million tonnes less compared to the previous forecasts. Consequently, corn futures on the Chicago Stock Exchange have seen a rise, with July futures increasing by 2.9% to $184.9/t and December futures by 2.5% to $193.7/t. Similarly, corn prices in Ukraine are mirroring the global trend, potentially leading to an increase in sowing areas due to the rising prices and reduced stocks.