Corn Hits 4-week High

Corn increased to 427.00 USd/BU, the highest since June 2026. Over the past 4 weeks, Corn lost 1.79%, and in the last 12 months, it decreased 1.85%.

Corn futures rose above $4.20 per bushel, hitting their highest level in a month after the USDA projected tighter stockpiles and lower acreage. In its quarterly report, the USDA estimated June 1 corn stocks at 5.295 billion bushels, below analysts' expectations, while its annual acreage report pegged planted area at 95.343 million acres, above trade forecasts but down from 2025 and still the fourth largest since 1944. Additionally, markets continued to monitor hot weather across the US Midwest, which is expected to stress corn crops before easing later this week. Meanwhile, the dollar continued to rise as strong US economic data reinforced expectations that the Federal Reserve will raise interest rates this year, making commodities more expensive for foreign buyers. Elsewhere, investors also awaited updates from the ongoing US-Iran peace talks in Qatar amid hopes for a lasting ceasefire agreement.

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.