Corn Hits 42-week Low

Corn futures traded below $4.1 per bushel, hovering near eight-month lows as markets adjusted positions ahead of USDA’s acreage and quarterly inventory report this week, while hot US weather raised crop concerns. Hotter-than-normal temperatures are forecasted from the Plains to the Atlantic Coast through July 4, while drier conditions across southern growing areas and a heat dome expected next week could further raise crop concerns and threaten yield prospects. Meanwhile, traders are closely watching USDA reports for fresh supply signals due on Tuesday, with corn plantings expected to decline to around 94.9 million acres. However, that would still mark the fourth-largest planted area in the US since 1960. Elsewhere, markets also watched whether the ceasefire between the US and Iran would hold. Oil prices rose after both sides exchanged attacks around the Strait of Hormuz. Although, both agreed to halt further strikes ahead of peace talks set to resume later this week.

Corn decreased to 400.00 USd/BU, the lowest since September 2025. Over the past 4 weeks, Corn lost 8.22%, and in the last 12 months, it decreased 3.09%.

Corn futures traded below $4.1 per bushel, hovering near eight-month lows as lower crude oil prices and a firmer US dollar continued to weigh on prices, while hot US weather raised crop concerns. The National Weather Service forecast temperatures nearing 100 degrees Fahrenheit this weekend, extending as far north as the upper Midwest and as far east as the Carolinas. These elevated temperatures are expected to stretch from the Plains to the Atlantic Coast through July 4. Elsewhere, Brazil raised its estimate for the country’s 2025/26 second corn crop by 3.4%, although the forecast remained below the previous season’s record harvest after adverse weather limited potential. Meanwhile, lower crude oil prices continued to pressure corn as improved shipping through the Strait of Hormuz boosted expectations of stronger global oil supply. A stronger US dollar also weighed amid mounting expectations on US interest rate hikes this year, making US supplies less competitive overseas.