Corn futures climbed toward $5 per bushel, hitting a seventeen-month high as growing concerns over US crop yields fueled expectations of tighter supplies. The Pro Farmer Crop Tour estimated the national corn yield at 173.2 bushels per acre, well below the USDA’s August forecast of 180.7 bushels and implying production of 15.344 billion bushels, around 670 million below the government’s estimate. Yield results from all seven states surveyed by the tour came in below last year’s levels, with Illinois at 184.19 bushels per acre, down from 199.57 a year earlier. Strong export demand is adding to the bullish outlook, with US corn export commitments already 24% above last year and exceeding the USDA’s full-year projection. Meanwhile, hot and dry conditions across parts of the US Corn Belt have added to crop stress, while adverse weather in Europe and continued disruptions to Ukrainian grain shipments are raising concerns over global supplies.