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CornMarkets

Corn Futures Near 1-Month Low

Corn futures traded below $4.4 per bushel, struggling to rebound from a four-week low reached on August 5, as traders continued to assess crop conditions and weather forecasts ahead of the USDA’s supply-and-demand report this week. Recent rain and milder temperatures eased crop stress after several weeks of excessive heat and dryness across much of the US Midwest during July, although 28% of US corn was affected by drought, according to the USDA. Elsewhere, Ukraine, a major corn producer, cut its 2026/27 grain export forecast by up to 12% from its previous projection, citing Russian attacks on the country’s southern Odessa port hub. The disruption could result in an 11 million-ton grain storage shortfall, according to Ukraine’s agriculture ministry, while APK-Inform also lowered its Ukraine grain export forecast by 8.6% to 39.4 million tons. However, both Ukraine and Russia are harvesting large crops that could add to already ample global supplies.

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