Corn Prices

Corn prices averaged USD 461 cents per bushel in March, down 5.6% from February. On 31 March, the commodity traded at USD 457 cents per bushel, up 0.8% from 28 February.

In March, average corn prices fell for the first time in seven months. The USDA raised its forecast for global corn production in 2024/25 on an improving outlook for output in Russia and Ukraine, while lowering its projections for global exports and ending stocks. Moreover, the USDA expects corn plantings this year to rise from 2024, surprising markets to the upside. Concerns over retaliatory tariffs on U.S. exports also fueled a major market sell-off of corn futures, hitting prices in turn.