Corn Hits 6-week Low

Corn decreased to 446.75 USd/BU, the lowest since April 2026. Over the past 4 weeks, Corn lost 3.84%, and in the last 12 months, it increased 0.66%.

Corn futures traded around $4.5 per bushel, hovering near three-week lows as uncertainty over global trade and geopolitical developments weighed on prices. A potential US–Iran peace deal that could reopen the Strait of Hormuz and restore flows of fuel and fertilizers critical for crop production is seen as supportive for agricultural supply, potentially boosting global grain output. However, crude oil prices rebounded on reports of fresh US strikes in southern Iran, reinforcing biofuel-related demand. Elsewhere, doubts over a US–China trade agreement added pressure. While the US administration said China had agreed to purchase at least $17 billion in US agricultural goods annually through 2028 following Trump–Xi talks in Beijing, China’s Commerce Ministry described the arrangement only as a “guiding target” to expand trade, without confirming the figure. USDA data indicates that a recovery in Chinese corn imports would mark a notable shift after nearly two years of subdued buying.

Corn futures fell to around $4.60 per bushel, pulling back from recent one-year highs, amid doubts over China’s commitment to US agricultural purchases. While the Trump administration stated that Beijing had agreed to buy at least $17 billion in US agricultural products annually through 2028, following Trump-Xi talks in Beijing, China’s Ministry of Commerce clarified on Wednesday that the two nations had only set a “guiding target” to expand trade, without confirming the $17 billion figure. The potential deal was seen as a positive for corn futures, as it could complement the existing soybean agreement and extend to other commodities. USDA data suggests that a resumption of Chinese corn imports would mark a shift after nearly two years of subdued buying. However, farmers remain vulnerable to recent surges in fuel and fertilizer costs tied to Middle East geopolitical tensions, which continue to impact production and pricing.