Corn futures slipped to about $4.33 per bushel, pulling back from last week’s high near $4.47, as softer energy prices weighed on the market. Crude oil fell sharply amid optimism that tensions with Iran could ease sooner than anticipated, following comments from US President Trump indicating that military operations may be winding down and that measures are being considered to contain energy costs.
Grain prices often track movements in oil because corn and other crops are key feedstocks for biofuel production, and higher energy prices also inflate input costs such as fertilizer and transportation.
Sentiment was further tempered ahead of the US Department of Agriculture’s upcoming WASDE report, which may adjust estimates for US corn inventories, export demand, and global supply. Export demand has remained solid: shipments for the 2025–26 marketing year have reached roughly 1.62 billion bushels, about 42% above the pace a year earlier. Even so, ongoing uncertainty around production forecasts and weather conditions has led many investors to pare back their positions.
