Corn futures slipped below $5.20 per bushel, retreating from a three‑year high as traders locked in profits after the recent rally. Even so, worries over US yields and the outlook for export demand continued to underpin the market.
The latest USDA report left the US corn crop rated 57% good-to-excellent as of August 30. However, recent field tours have revealed mixed results and, in some regions, yields below expectations, fueling uncertainty about the ultimate size of this year’s harvest.
On the demand side, Chinese officials are reportedly in talks to purchase US agricultural commodities, including corn, ahead of a potential Trump–Xi meeting. Global supply risks also remain in focus: the EU projects its 2026 maize crop to fall to nearly a 20‑year low, while ongoing disruptions to Black Sea grain shipments continue to threaten export flows.
Ahead of the USDA’s weekly export sales report, market participants expect US old-crop corn sales of up to 200,000 metric tons and new-crop commitments of as much as 1.6 million tons, keeping the spotlight firmly on international demand.
