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Corn

Corn Retreats from 3-Year Highs

Corn futures fell to below $5.2 per bushel, pulling back from three-year highs as weak US export demand pressured the market. Corn export sales for the week ended September 17 came in at just 838,000 metric tons, at the lower end of analyst expectations, while total commitments for the 2026/27 marketing year were 29% below a year earlier. Wet conditions and rainfall across parts of the Midwest also continued to limit harvest activity, supporting crop basis levels, with cooler-than-average temperatures and above-normal rainfall expected across the Corn Belt over the next two weeks. Elsewhere, the latest US-China summit offered little progress on agricultural trade, while elevated Treasury yields and a stronger dollar weighed on grain markets by making US crops more expensive for overseas buyers. Meanwhile, USDA’s September outlook cut its 2026/27 US corn yield estimate to 178.5 bushels per acre and production to 15.8 billion bushels, pointing to a tighter supply outlook.

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