Corn Holds Near Multi-Week Highs

2026-07-29 04:16 By Joshua Ferrer 1 min. read

Corn futures held above $4.5 per bushel, staying near their highest level since late May as geopolitical disruptions raised concerns over global supplies, while persistent dry weather in parts of the US Midwest threatened yields.

The USDA said that 63% of the country's corn crop was rated good-to-excellent, down from 67% a week earlier and below market expectations.

Meanwhile, continued attacks between Russia and Ukraine raised concerns over Black Sea grain exports, with damage to port infrastructure and shipping routes threatening supplies from one of the world's key exporting regions.

Additionally, renewed fighting in the Middle East constrained fertilizer shipments through the Strait of Hormuz and pushed crude oil prices higher.

Higher energy prices supported corn by improving the outlook for ethanol demand.

The market also remained underpinned by the USDA's latest WASDE report, which cut 2026/27 US ending stocks more than expected while raising export forecasts.



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