Corn futures climbed further above $5.1 per bushel, reaching a fresh high since July 2023 as mounting concerns over US crop prospects and tightening global supplies continued to support prices. The USDA cut its 2026 US corn yield forecast by 2.3 bushels per acre to 180.7, while the Pro Farmer Crop Tour found that extreme July heat and excessive rainfall had damaged crops across parts of the Corn Belt. Rising disease pressure following heavy August rainfall has further clouded the outlook. Meanwhile, prolonged heat and drought have weakened European corn production, with French crop conditions falling to just 28% good-to-excellent, while constrained Ukrainian exports are adding pressure to global supplies. The USDA also raised its US corn export forecast by 75 million bushels to 3.3 billion, reflecting stronger global demand. Corn futures gained 5.5% last week and 15.6% in August, putting them on track for their strongest monthly gain since April 2021.