Corn Prices Remain Under Pressure Due to Record US Harvest

Corn prices continue to decline under the influence of the rapid harvest in the United States of America and increasing overall supply on the global market. This trend persists despite a marked reduction in production across European Union countries, where the corn harvest turned out to be significantly lower than last year's level, according to Agrarheute.

On the Matif exchange in Paris, the March corn futures contract closed on October 29 at 259.25 euros per ton, down 0.25 euros from the previous day. Meanwhile, the November contract rose to 308.75 euros per ton; however, this jump is not considered representative due to extremely low trading activity for this contract, as the bulk of operations remains concentrated on the March futures.

On the CBoT exchange in the United States, the market remained relatively stable, with the December contract dropping by 0.5 cents to 451.25 cents per bushel. Earlier in the week, prices dropped to their lowest level in more than two months and have not yet been able to recover.

The main driving force putting downward pressure on the market remains the record harvest in the U.S. According to data from the USDA, as of October 25, 60% of corn acreage had already been harvested, compared to 44% a week earlier. Harvesting rates exceeded analysts' expectations, resulting in additional volumes of grain entering the market more quickly.

The agency also expects a record corn harvest in the United States for the 2026/27 season. Export statistics demonstrate a mixed picture: net sales of U.S. corn reached 1.53 million tons, which is 87% higher than the four-week average, with Mexico and Japan emerging as the most active buyers, though actual exports amounted to only 780.3 thousand tons.