Corn Hits 12-week High

Corn futures held their recent rally to above $4.6 per bushel, near a thirteen-week high as traders weighed fresh crop assessments from the Pro Farmer Crop Tour and robust export demand. Early field observations pointed to drought damage in South Dakota and uneven crop maturity in Ohio, raising concerns that actual yields could fall short of USDA’s latest estimate of 180.7 bushels per acre. USDA’s Crop Progress report showed 76% of the US corn crop had reached the dough stage by August 16, with 29% dented and 4% mature, while the share rated good-to-excellent fell to 60% from 61% a week earlier. Meanwhile, weekly US corn export inspections jumped 81.7% year-on-year to 1.91 million tonnes, with Mexico, Japan and Colombia among the top destinations. Cumulative shipments reached 80.95 million tonnes, or 26.1% above the same period last year, underscoring firm overseas demand. Brazil’s second-crop harvest was also only 85% complete, below the 94% average pace, adding further support.

Corn increased to 466.75 USd/BU, the highest since May 2026. Over the past 4 weeks, Corn gained 3.72%, and in the last 12 months, it increased 21.73%.

Corn futures rose above $4.6 per bushel, hitting a three-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, reinforcing expectations for the second-largest crop on record. Looking ahead, forecasts for wetter weather have limited buying interest as some flooding in parts of the Corn Belt raised concerns over crop conditions.