Corn futures slipped below $5.10 per bushel, retreating from the more than three-year high of $5.21 reached on September 1, as traders adjusted positions ahead of Friday’s widely watched USDA supply-and-demand report. The pullback occurred despite expectations for weaker US yields, which continue to underpin prices.
Commodity brokerage StoneX cut its forecast for the average US 2026 corn yield to 182.9 bushels per acre from 184.8 in its previous monthly outlook, heightening concern over tighter supplies. At the same time, warmer and drier conditions expected across the US Midwest in the coming weeks should help minimize harvest delays and reduce frost risk, potentially allowing fieldwork to advance rapidly.
According to the USDA, 5% of the US corn crop had been harvested as of last Friday, with 56% rated in good to excellent condition. Traders are also closely monitoring risks to Black Sea grain exports, as the ongoing Russia-Ukraine war continues to threaten supply flows and tighten global grain markets.
