The May WASDE report has revised down global production, exports, and stocks of corn for the 2024/25 marketing year, while consumption has been increased, leading to a rise in prices. The price increase is also attributed to reduced corn crop forecasts in Brazil and Argentina for the 2023/24 marketing year. The Chicago Board of Trade has seen an uptick in corn futures prices as a result. Similarly, corn prices in Ukraine are mirroring the global trend, with declining stocks potentially leading to an expansion in sowing areas.