Corn Hits 16-month High

Corn futures climbed toward $5 per bushel, hitting a seventeen-month high as growing concerns over US crop yields fueled expectations of tighter supplies. The Pro Farmer Crop Tour estimated the national corn yield at 173.2 bushels per acre, well below the USDA’s August forecast of 180.7 bushels and implying production of 15.344 billion bushels, around 670 million below the government’s estimate. Yield results from all seven states surveyed by the tour came in below last year’s levels, with Illinois at 184.19 bushels per acre, down from 199.57 a year earlier. Strong export demand is adding to the bullish outlook, with US corn export commitments already 24% above last year and exceeding the USDA’s full-year projection. Meanwhile, hot and dry conditions across parts of the US Corn Belt have added to crop stress, while adverse weather in Europe and continued disruptions to Ukrainian grain shipments are raising concerns over global supplies.

Corn increased to 486.25 USd/BU, the highest since April 2025. Over the past 4 weeks, Corn gained 4.98%, and in the last 12 months, it increased 24.92%.

Corn futures climbed toward $4.80 per bushel, extending their rally to the highest level since May 13, as disappointing US crop-tour results deepened concerns over tightening global corn supplies. According to the Pro Farmer Crop Tour, corn yields in Western Iowa and Illinois, the nation’s two largest corn-producing states, fell below last year’s levels. The findings followed weaker-than-expected yield estimates from four other key Midwestern states surveyed earlier in the week, with results also trailing the tour’s three-year average. Supply concerns have been amplified by adverse weather, as severe storms and extreme summer heat affected crops across the US Corn Belt. Beyond the US, Europe has endured successive heat waves, with France projected to record its smallest corn harvest since 1980. Meanwhile, ongoing attacks in the Black Sea region have disrupted grain shipments from Ukraine, further fueling concerns over global supplies.