The corn markets came under renewed pressure in the middle of the week. US futures closed with losses on Tuesday. September corn lost 5.20 US cents to 412.20 US cents/bushel.
Despite a large-volume US export deal of 630,000 tons of corn to Mexico - 554,400 tons of which for 2025/26 - prices were unable to escape the downward trend. The assessment of stocks in the weekly USDA Crop Progress Report fell by 2 percentage points to 70% for the "good/excellent" share.
In addition, developments in Brazil caused uncertainty: the ANEC association's export forecast for June was lowered slightly, while AgroConsult raised its forecast for Brazil's second maize harvest significantly by 10.4 million tons to 123.3 million tons - a potential negative factor for the global market. Declining crude oil prices, which have fallen by over USD 13 per barrel since the beginning of the week, also had a negative impact on sentiment in the maize market. On Euronext, August fell by €1.00 and stood at €196.25/t at the close of trading.
