According to statistics released by Secex, Brazil's corn exports have continued to lead the same period last year since January 2026. From January 1st to 23rd, Brazil's corn export volume was 3.745 million tons, and for the entire month of January 2025, it was 3.594 million tons.

The year-on-year increase in Brazilian corn exports (reaching 3.745 million tons from January 1-23, 2026, higher than the full month 3.594 million tons in January 2025) indicates sufficient supply, which may increase global market supply and exert downward pressure on spot prices. Combined with the recent corn futures market (such as the closing price of contract 2603 at 2,283 RMB/ton, down -15; the closing price of contract 2605 at 2,282 RMB/ton, down -10), the data strengthens the expectation of oversupply, which is bearish on the trend of futures prices. It is expected that short-term prices will be under pressure and decline.

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