Corn Hits 4-week Low

Corn futures traded above $4.5 per bushel, staying near a two-week high as strong demand and tighter supply forecasts supported prices. The USDA raised its 2025/26 US corn export forecast by 75 million bushels to a record 3.4 billion, citing robust demand from Mexico and other major importers. It also lifted the 2026/27 export outlook by 75 million bushels to 3.275 billion, helping drive projected ending stocks down to 1.653 billion bushels from 1.79 billion previously. Meanwhile, the USDA cut its 2026 corn yield estimate to 180.7 bushels per acre from 183, below market expectations of 182.4, reflecting the impact of extreme heat and dryness across parts of the Midwest. However, higher planted acreage pushed projected production up to 16.013 billion bushels, slightly above the previous estimate and reinforcing expectations for the second-largest crop on record. Looking ahead, forecasts for cooler temperatures and ample rainfall in August and September could improve crop prospects.

Corn decreased to 434.00 USd/BU, the lowest since July 2026. Over the past 4 weeks, Corn lost 1.48%, and in the last 12 months, it increased 16.95%.

Corn futures traded below $4.4 per bushel, struggling to rebound from a four-week low reached on August 5, as traders continued to assess crop conditions and weather forecasts ahead of the USDA's supply-and-demand report this week. Recent rain and milder temperatures eased crop stress after several weeks of excessive heat and dryness across much of the US Midwest during July, although 28% of US corn was affected by drought, according to the USDA. Elsewhere, Ukraine, a major corn producer, cut its 2026/27 grain export forecast by up to 12% from its previous projection, citing Russian attacks on the country's southern Odessa port hub. The disruption could result in an 11 million-ton grain storage shortfall, according to Ukraine's agriculture ministry, while APK-Inform also lowered its Ukraine grain export forecast by 8.6% to 39.4 million tons. However, both Ukraine and Russia are harvesting large crops that could add to already ample global supplies.