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.





