Corn Prices

Corn prices averaged USD 453 cents per bushel in May, down 4.3% from April. On 30 May, the commodity traded at USD 444 cents per bushel, down 5.0% from 30 April.

Corn prices declined in May on a robust supply outlook. The U.S. Department of Agriculture forecasts record global and U.S. production and consumption, with supply set to outstrip demand. Favorable weather in key producing regions and cheap South American crops amid advancing harvests in Argentina and Brazil contributed to May’s price fall. Meanwhile, elevated trade uncertainty likely weighed on demand as markets held their breath following a legal dispute over U.S. tariffs and stalled negotiations with China.