Dec 24 corn futures price action is closely tied to ethanol demand trends, where latest EIA data points to small production upticks, potentially underpinning grain prices. Crop Progress data showed 18% of the US corn crop was silking by July 6, 3 points ahead of normal, with 3% in the dough stage. Condition ratings were up 1% to 74% good/excellent, with the Brugler500 index improving 3 points to 385. In Brazil, soyabean production and exports are forecast to increase by 9.4% and 5.9% respectively in 2024/25 marketing year, compared to the last season, according to updated estimates from the trade association ABIOVE. On the other hand, domestic crushing is forecast to be 4.6% higher than last season. Brazilian farmers have sown 83.3% of the soyabean area expected for 2024/25, up from 74.7% at this time last year (Patria Agronegocios, LSEG). Market chatter sees Dec 24 corn futures benefitting from stronger risk appetite in commodities, as fund managers rotate allocations amid softening U.S. dollar index levels.