Corn Rises Toward 1-Month High

Corn futures rose to around $4.4 per bushel, moving back toward a one-month high after the USDA cut US corn ending stocks more than expected in its July WASDE report, signaling a tighter supply outlook. The agency lowered 2026/27 ending stocks by 170 million bushels to 1.8 billion, as stronger export demand more than offset a modest increase in production, while keeping the national yield unchanged at 183 bushels per acre. The USDA also maintained its forecast for 5.6 billion bushels of corn to be used for ethanol in 2026/27, underscoring resilient demand from the biofuel sector. Meanwhile, traders continued to monitor weather across key US growing regions, with localized heat and uneven rainfall expected to influence yield prospects during the critical pollination stage. Overseas, persistent heat and drought further reduced yield prospects in France, with the USDA forecasting the country’s smallest corn harvest in more than 30 years, adding to concerns over global supplies.