Corn, often referred to as the 'golden grain,' is one of the most important commodities in the global agricultural landscape. According to Statista, corn ranks as the most significant grain produced globally, with a production volume of approximately 1.2 billion metric tons.
The United States (US) alone is responsible for nearly one-third of global production, making CBOT Corn Futures one of the most actively traded commodities futures contracts.
In this article, we embark on a journey into the world of corn, closely examining the current market outlook for CBOT Corn Futures as they navigate the ever-evolving global marketplace.
Click to find out What You Need To Know About Trading Corn Futures.
Trading CBOT Corn Futures
Traders can trade Corn Futures from the Chicago Board of Trade (CBOT) which is part of the CME Group (Chicago Mercantile Exchange), through Singapore brokerage firm, Orient Futures Singapore.
Orient Futures Singapore is a licensed Singapore Forex and Futures Broker that will enable traders to engage in futures trading in the international and China market. This includes access to the China Derivatives market through either the QFI China Scheme or internationalized products.
In addition to Corn Futures, Orient Futures Singapore offers other commodity futures from various exchanges. This includes DCE China Soybean Oil Futures, CBOT Soybean Futures, SGX Rubber Futures and more.
Click to find out more on CBOT Corn Contract Specifications and CBOT Market trading hours.
CBOT Corn Futures Market Prices Outlook
According to the US Grains Council, Corn futures have experienced notable volatility at the start of October, with prices surging by 20 ¾ cents (4.4 percent). This tumultuous journey in the market was triggered by several factors.
Initially, the market witnessed a sharp selloff following the release of a bullish Grain Stocks report. This report, combined with spillover selling from soybeans and wheat, contributed to the initial weakness in corn prices.
However, the market later rebounded due to strong export sales and technical buying. This rebound was highlighted by an 11 ½-cent gain. The typical harvest and seasonal lows for corn are expected during October, they appear to have arrived earlier in September this year. The market is showing signs of a shift towards a steady or higher mentality.
The Grain Stocks report released in September indicated that there a 1% decrease of corn supply from the last year. This figure was contrary to market expectations, which had anticipated a 3-5 percent increase in stocks, making the report's findings bullish for corn.
Despite challenges like a strong US dollar and draft issues on the Mississippi River, US corn export sales have seen a significant uptick. The USDA reported substantial daily "flash" export sales to Mexico for both the 2023/24 and 2024/25 marketing years. Additionally, the weekly Export Sales report featured strong numbers, with gross sales and net sales up 116 percent from the previous week, even though exports dipped slightly.
Overall, the favourable weather in the Midwest has enabled the US corn crop to reach maturity and progress towards harvesting, with harvest progress and maturity levels exceeding the five-year average. While there are some concerns about frost and freeze risks in specific regions, there is currently limited cause for concern in the corn crop's development.
Start Trading With Orient Futures Singapore
Being an Overseas Intermediary of Shanghai International Energy Exchange (INE), Dalian Commodity Exchange (DCE), and Zhengzhou Commodity Exchange (ZCE), when foreign clients participate in internationalised futures contracts in these Chinese markets with us, they have direct access to trading, clearing, and settlement. Our parent company, Shanghai Orient Futures, is the largest broker in terms of aggregated volume across the five regulated exchanges in China.
Orient Futures Singapore also currently holds memberships at the Singapore Exchange (SGX), Asia Pacific Exchange (APEX), and ICE Futures Singapore (ICE SG). Starting August 2023, corporate clients can also gain access to the B3 Exchange through us.
We provide bespoke services to our professional clients, tailored to their corporate and individual needs. Our team will be there for you 24 hours on trading days to provide a one-stop portal for all your trades, with simple processes and an intuitive user interface that has low or near-to-zero latency.
