Corn Prices

Corn prices averaged USD 402 cents per bushel in July, down 6.6% from June. On 31 July, the commodity traded at USD 394 cents per bushel, down 6.3% from 30 June.

In July, corn prices averaged the lowest in almost a year and decreased for the third month running. The supply outlook remained strong in July and weighed on prices: Favorable weather in the U.S. corn belt, plus bumper harvests in both key exporter Brazil and top importer China supported supply and capped demand, respectively. Additionally, the U.S. threatened a 50% tariff on Brazilian goods from August, likely hurting market sentiment further.