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Corn futures rose to around $4.6 per bushel, rebounding from three-week lows as rising fertilizer and energy costs driven by the intensifying Middle East conflict increased pressure on production. Oil prices climbed as the US and Iran continue to struggle toward a diplomatic resolution in the conflict, while the Strait of Hormuz remains effectively closed. Higher input costs, including fertilizers, chemicals and diesel for irrigation, are squeezing margins and threatening yields for the nutrient-intensive crop.
In response, farmers are expected to reduce corn acreage and shift to less input-heavy crops to manage costs. Meanwhile, the US finalized record Renewable Fuel Standard volumes for 2026–2027, maintaining a 15 billion gallon ethanol mandate and supporting steady corn demand from the biofuels sector. Faster-than-average US planting pace also limited price gains, with USDA crop progress data showing nationwide planting at 38% complete, ahead of five-year average.
