The December 2026 CBOT corn contract closed at $174.2/ton, down 1.1%, while the December 2026 Rosario contract closed at $187.5/ton, up 0.2%. The USDA cut its 2026/27 Ukraine exportable corn forecast from 22.0 to 20.0 million tons, and Argentina's shipments announced in November reached 3.38 million tons.
Black Sea logistics restrictions reduce Ukraine's export availability, which lifts the relative role of Brazilian and Argentine corn in world supply. Argentine prices holding firm while Chicago falls limits downside for the South American corn complex.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.