Weekly global corn market overview (December 17)

Published Dec 17, 2024

Tridge summary

Good weather conditions in central Brazil and the expected end of El Niño are expected to favor the flowering, filling of soybeans, and development of corn in the region. However, planting is stalled in parts of Córdoba, Australia's main grain producing province, due to a lack of recent rainfall. In Ukraine, weekly corn exports fell significantly, but total exports for the year have increased by 8% compared to the same period last year. In contrast, corn exports from Russia have decreased by 38% compared to the same period of 2023/2024. Speculators are optimistic about Chicago-traded corn due to impressive sales volumes reported by the USDA, but it remains to be seen if the expected large South American harvests will change this.

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

Original content

Weather Generally, good weather conditions continue with scattered rains in central Brazil and rain fronts coming from Argentina bringing rain to the southern states. This weather pattern is expected to continue at least until the end of the year, which favors flowering and filling of soybeans, as well as the development of corn. The weather in Argentina remained mostly dry over the weekend, and this will continue this week in most areas. However, a front with isolated rains will pass on Wednesday and Thursday, and one or two more fronts are expected over the weekend and early next week. Although rainfall will be heavier in the northern regions, rain in the south would be particularly beneficial. This area remains more sensitive to soil moisture, which is currently satisfactory but with a decreasing trend. Global Market Highlights MATIF corn continued its consolidation over the past week, without significant price changes. The leading futures are trading around €206-208/t and ...

Source: Agroportal