CornPrice - Chart - Historical Data - News

Corn futures rose above $4.4 per bushel, rebounding from a five-week low reached on April 13, as global supply risks linked to disruptions around the Strait of Hormuz persisted. Ongoing constraints in the key Gulf shipping route have tightened global flows of nitrogen-based fertilizers such as ammonia and urea, increasing input costs ahead of the US planting season. This is raising concerns that higher production expenses could influence farmer planting decisions, with potential shifts away from corn toward less fertilizer-intensive crops like soybeans. However, the broader supply backdrop remains heavy. The USDA left US corn ending stocks unchanged at 2.127 billion bushels, remaining at a seven-year high, while global inventories rose to 294.81 million metric tons, above expectations. On the demand side, export flows remain steady, while ethanol demand, supported by higher crude oil prices, continues to provide a consistent source of corn consumption.

Corn futures dropped to $4.4 per bushel, the lowest since March 9, and are on track for a fourth straight weekly loss as ample global supplies weigh on the market. The USDA kept its forecast for US corn inventories unchanged at 2.127 billion bushels, just below expectations of 2.128 billion but still the highest in seven years. The agency also lifted its season-average farm price by 5 cents to $4.15 per bushel, citing "reported prices to date." Globally, the USDA left South American production forecasts untouched, maintaining Brazilian output at 5.197 billion bushels and Argentine production at 2.047 billion bushels, defying expectations of modest increases. Global ending stocks rose to 294.81 million metric tons, up from 292.75 MMT in March and above the trade’s average estimate of 293.07 MMT.

Corn futures fell to around $4.4 per bushel, reaching a fresh four-week low as easing concerns over fertilizer supply and improving prospects for trade flows weighed on prices. A two-week ceasefire in the Middle East war helped ease fears of prolonged supply disruptions, following weeks of constrained flows through the Strait of Hormuz that had disrupted fuel and fertilizer shipments critical to agricultural production. A sharp drop in crude oil prices also weighed on corn, which is closely linked to energy markets through ethanol demand. Since the start of the Iran conflict, rising energy costs have been a key concern for farmers, forcing them to reassess planting strategies and potentially reduce input usage, which could raise the risk of lower yields ahead. The USDA indicated that growers plan to scale back corn plantings to about 95.3 million acres in 2026, down from nearly 99 million last year, as elevated fertilizer costs make corn less attractive compared to soybeans.