Corn Futures Hit 3-Week High

2026-04-22 02:44 By Joshua Ferrer 1 min. read

Corn futures rose above $4.5 per bushel, hitting a three-week high as global supply risks tied to disruptions around the Strait of Hormuz persisted.

Ongoing constraints in the key shipping route have tightened global flows of nitrogen-based fertilizers such as ammonia and urea, lifting input costs early in the US planting season.

As of last week, US farmers needed about 154 bushels of corn to cover the per-ton cost of urea, one of the most stretched cost relationships in years for this stage of the season.

This raised concerns that higher production expenses could influence farmer planting decisions, with potential shifts away from corn toward less fertilizer-intensive crops like soybeans.

A USDA report showed US producers intend to plant 95.3 million acres of corn in 2026, down 3% from last year.

Still, farmers typically stick to initial corn plans unless weather causes major disruption.

As of April 19, corn was 11% planted, matching last year and above the five-year average of 9%.



News Stream
Corn Futures Hit 3-Week High
Corn futures rose above $4.5 per bushel, hitting a three-week high as global supply risks tied to disruptions around the Strait of Hormuz persisted. Ongoing constraints in the key shipping route have tightened global flows of nitrogen-based fertilizers such as ammonia and urea, lifting input costs early in the US planting season. As of last week, US farmers needed about 154 bushels of corn to cover the per-ton cost of urea, one of the most stretched cost relationships in years for this stage of the season. This raised concerns that higher production expenses could influence farmer planting decisions, with potential shifts away from corn toward less fertilizer-intensive crops like soybeans. A USDA report showed US producers intend to plant 95.3 million acres of corn in 2026, down 3% from last year. Still, farmers typically stick to initial corn plans unless weather causes major disruption. As of April 19, corn was 11% planted, matching last year and above the five-year average of 9%.
2026-04-22
Corn Futures Rebound
Corn futures rose to around $4.5 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.
2026-04-15
Corn Sinks to Four-Week Low on Ample Supplies
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.
2026-04-10