Corn, Soybean Prices Rise on Favorable US, Ukraine Weather

Corn futures have experienced mixed movements recently, influenced by favorable weather forecasts in the U.S. and Europe that support strong harvests and exert downward pressure on prices. While U.S. corn conditions remain good to excellent, with harvesting underway in southern regions, low prices have spurred brisk import demand from Asia, including Taiwan and South Korea. In Europe, despite a lowered production forecast for the EU, corn prices have declined due to the EU-US duty-free agricultural import agreement, increasing competition with Ukrainian corn exports. Wheat prices have remained pressured by a stronger U.S. dollar and near-completion of the global winter wheat harvest, although some analysts anticipate a potential rebound supported by favorable summer weather. Market participants are also closely watching trade developments, including President Donald Trump's deadlines for trade deals and changes in export taxes by countries like Argentina, which could further impact grain futures. Overall, grain markets are responding to a combination of weather conditions, currency fluctuations, trade policies, and export demand dynamics.