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2026.01.1412:09:33UTC+00Corn Prices Hover Near Three-Month Lows

Corn futures were trading at approximately $4.20 per bushel, hovering near the three-month low of $4.17 observed on January 13. The market is experiencing pressure from concerns about oversupply and weak demand. According to the USDA, both farmers and grain companies held record-high corn inventories as of December 1, following a historic harvest of 17 billion bushels. This harvest was larger than initially estimated and represents a 14% increase compared to 2024 levels. Looking forward, the USDA has increased its forecast for the US corn harvest in the 2025/26 marketing year by 6.81 million tonnes, reaching an unprecedented 432.34 million tonnes. This figure surpasses the previous 2023 record by 40 million tonnes and exceeds last year's output by 54 million tonnes, further exerting downward pressure on prices. Although the projected US corn consumption has been revised upward by 2.3 million tonnes to 334.5 million tonnes, due to heightened feed demand, analysts did not foresee such a substantial increase. This unexpected rise suggests that part of the additional supply may ultimately augment ending stocks.

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