Corn futures climbed more than 2% to about $4.60 per bushel, rebounding from a one-week low hit on May 15, as expectations for export demand improved following the release of long-awaited details on China’s plans to purchase US farm products. After high-level talks in Beijing between President Donald Trump and President Xi Jinping aimed at easing trade tensions, China committed to buying at least $17 billion a year in American agricultural goods through 2028.
The pledge is viewed as supportive for corn futures, as these purchases would come on top of an existing soybean agreement and could potentially expand to other agricultural commodities. USDA data indicate that a renewed flow of Chinese corn imports would mark a clear shift from nearly two years of muted buying.
At the same time, producers remain wary as recent surges in fuel and fertilizer costs—driven in part by ongoing geopolitical unrest in the Middle East—continue to shape crop production economics and influence overall pricing dynamics.
