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Abundant US and Brazilian corn supply has pushed global corn prices lower. Ukrainian farmers are holding back new-crop corn ahead of the September harvest, slowing sales.
Platts assessed US Gulf corn at $179.72 a tonne, the lowest since September 2020.
Lower US and Brazilian export prices shift corn demand away from Black Sea origin, while Ukrainian sellers hold back supply. The combined effect keeps global corn export prices under pressure.
spglobal.comAug 21, 2024After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
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.
