March corn futures slipped to $4.45 as Brazil’s CONAB increased production estimates, adding bearish pressure. Speculative traders are rotating into soy contracts, leaving corn volumes relatively thin, heightening intraday volatility risks. The UT Institute of Agriculture is co-hosting a meeting to discuss other options with farmers. Brazilian local consultancy Céleres expects the country’s second corn crop to reach 119.4 million tonnes in 2024/25, up by 18% from the 101.2 million tonnes in 2023/24. The figure is higher than the previous forecast of 107.2 million tonnes. March corn futures stabilized around $4.48 amid mixed weather forecasts for Brazil’s key growing regions. Analysts note that any dryness in Mato Grosso could tighten global supply, potentially adding $0.10–$0.15 to prices within the next two weeks if trend lines hold.
