Corn Prices

Corn prices averaged USD 431 cents per bushel in June, down 5.0% from May. On 30 June, the commodity traded at USD 421 cents per bushel, down 5.3% from 30 May.

Corn prices fell to a seven-month low in June as improving U.S. weather forecasts and a strong supply outlook tempered prior worries over crop stress from extreme heat in the Corn Belt. Moreover, markets now expect Brazil’s record crop to be larger than previously projected, further curbing supply woes. Meanwhile, U.S. Department of Agriculture data for the first half of the month signaled sluggish demand, which likely exerted further downside pressure on prices.