Corn prices decline as harvest pressure builds and Black Sea flows recover

Key points

• Advancing Northern Hemisphere harvests are increasing global corn supply, leading to downward pressure on prices.
• Improved logistics in the Black Sea region are facilitating corn exports, contributing to a bearish market sentiment.
• Ethanol and feed demand continue to provide partial support to the corn market, balancing some of the bearish factors.
• Futures markets are trading sideways to slightly lower, indicating a lack of strong directional movement in the market.