Corn Retreats Ahead of USDA Planting Report

2026-03-31 11:43 By Joana Ferreira 1 min. read

Corn futures eased to $4.5 per bushel, pulling back from recent 10-month highs, as traders adjusted positions ahead of a critical USDA planting outlook report due later today.

The USDA’s prospective planting report, set for release on Tuesday, is expected to reflect shifts in US farmers’ planting plans due to the Iran conflict, with analysts anticipating fewer corn acres this season, amid rising fertilizer and fuel costs.

Adding to market volatility, oil prices remained elevated following reports of escalating strikes on regional energy infrastructure and speculation that President Donald Trump may end US military operations in Iran, even if the Strait of Hormuz stays closed.

On the demand side, the USDA confirmed export sales of 145,000 metric tons of US corn to unknown destinations for the 2025/26 marketing year.

Additionally, US corn export inspections for the week ending March 26 totaled 1,789,524 bushels, exceeding trader expectations.



News Stream
Corn Retreats Ahead of USDA Planting Report
Corn futures eased to $4.5 per bushel, pulling back from recent 10-month highs, as traders adjusted positions ahead of a critical USDA planting outlook report due later today. The USDA’s prospective planting report, set for release on Tuesday, is expected to reflect shifts in US farmers’ planting plans due to the Iran conflict, with analysts anticipating fewer corn acres this season, amid rising fertilizer and fuel costs. Adding to market volatility, oil prices remained elevated following reports of escalating strikes on regional energy infrastructure and speculation that President Donald Trump may end US military operations in Iran, even if the Strait of Hormuz stays closed. On the demand side, the USDA confirmed export sales of 145,000 metric tons of US corn to unknown destinations for the 2025/26 marketing year. Additionally, US corn export inspections for the week ending March 26 totaled 1,789,524 bushels, exceeding trader expectations.
2026-03-31
Corn Remains Near 10-Month Highs
Corn futures fell to below $4.6 per bushel, but remained near its highest level since May 2025, supported by higher energy prices as the conflict in Iran continues to disrupt fuel and fertilizer supply chains. Oil prices remained elevated as the war in the Middle East continued to broaden in the region with no end in sight, while Iran continues to disrupt traffic through the Strait of Hormuz, a key route for oil and fertilizer exports. Rising diesel and nitrogen fertilizer costs, both critical inputs for corn, are squeezing farmer margins, particularly in the US, while similar pressures are emerging globally. In regions like South Africa, fuel shortages and higher input costs are already threatening planting and harvesting activity, highlighting risks to output. With corn being highly fertilizer-intensive, the ongoing cost shock is reinforcing expectations of tighter supply and keeping prices supported, even as volatility persists.
2026-03-24
Corn Declines From April Highs
Corn futures retreated $4.6 per bushel from April highs as de-escalation hopes of Middle Eastern hostilities removed the geopolitical risk premium that previously inflated the entire grain complex. This downward pressure is primarily driven by a sharp decline in crude oil prices following productive negotiations between the US and Iran, threatening to erode the demand floor for corn-based ethanol. While the recent rally was supported by a 30% spike in urea fertilizer prices and the effective closure of the Strait of Hormuz, the postponement of military strikes has calmed global markets and reduced concerns over the 12% of global urea capacity tied to the region. Lower energy costs are also mitigating fears of a surge in grain transportation and production expenses, prompting a pullback in the speculative capital that had entered the market to hedge against supply chain disruptions.
2026-03-23