Corn futures dropped to around $4.4 per bushel, hitting a fresh seven-week low, as favorable weather conditions across the US Midwest strengthened expectations for a large harvest. Improved planting conditions, aided by drier weather in key growing regions and rainfall in the Plains that eased drought concerns, reinforced confidence in crop development. Prices were further weighed down by expectations that up to 70% of the US corn crop could be rated in good-to-excellent condition. Additional pressure came from ample global supplies and strong harvest expectations in South America, while large old-crop inventories in the US continued to cloud the demand outlook. Although crude oil prices advanced amid renewed Middle East tensions, which typically supports grain markets through biofuel demand links, the bearish influence of favorable crop conditions and abundant supply remained dominant. Technical selling also accelerated losses after prices failed to break above key resistance levels.

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