25.09.202602:48:15UTC+00Corn Retreats from 3-Year Highs

Corn futures fell below $5.20 per bushel, retreating from three-year highs as sluggish US export demand weighed on the market. Weekly corn export sales for the period ended September 17 totaled just 838,000 metric tons, near the bottom of analyst expectations, while total commitments for the 2026/27 marketing year were 29% lower than a year earlier.

Across parts of the Midwest, wet conditions and persistent rainfall continued to slow harvest activity, underpinning strong cash basis levels. Forecasts point to cooler-than-normal temperatures and above-average rainfall across the Corn Belt over the next two weeks, further complicating fieldwork.

On the policy front, the latest US–China summit delivered little in the way of concrete progress on agricultural trade. At the same time, higher US Treasury yields and a stronger dollar pressured grain markets by making American supplies less competitive for overseas buyers.

Meanwhile, USDA’s September outlook reduced its 2026/27 US corn yield estimate to 178.5 bushels per acre and lowered production to 15.8 billion bushels, signaling a tighter supply outlook ahead.