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.



News Stream
Corn Holds Near Multi-Week Highs
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.
2026-07-29
Corn Falls from 5-Week High
Corn fell toward $4.50 per bushel, moving further away from the five-week high of $4.64 reached on July 24, pressured by a sharp decline in crude oil prices after the US and Iran paused military strikes over the weekend, raising hopes that diplomatic efforts could de-escalate tensions in the Middle East and restore shipping through the Strait of Hormuz. Lower energy prices reduced support for corn as falling crude weakened the outlook for ethanol demand. Meanwhile, improving weather across the US Corn Belt added further pressure, with temperatures expected to ease following the weekend's heat while rainfall is forecast to alleviate dryness and support crop development. Traders also monitored developments in the Black Sea, where efforts to maintain grain shipments through Ukrainian ports helped ease concerns over export disruptions.
2026-07-27
Corn Trades Near Multi-Week Highs
Corn futures traded above $4.5 per bushel, hovering near multi-week highs, supported by tightening global supply expectations, elevated crude oil prices, and adverse weather. Hot and dry conditions across parts of Europe and the Black Sea region continued to raise concerns over crop yields, while traders closely monitored weather across the US Corn Belt during the critical pollination stage. Additionally, elevated crude oil prices boosted the outlook for corn-based ethanol demand, as the ongoing conflict in the Middle East heightened concerns over disruptions to global oil supplies. 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, pointing to a tighter domestic supply outlook. Despite generally favorable US crop conditions, uncertainty over weather during the key yield-development period kept risk premiums elevated.
2026-07-24