Corn futures rose around $4.5 per bushel, moving back toward multi-week highs as mounting concerns over crop losses in Europe and parts of China outweighed expectations for another strong US harvest. Persistent heatwaves and prolonged dry weather across Western Europe, particularly in France, have severely stressed corn crops, prompting lower yield forecasts and raising fears of tighter global supplies. China is also experiencing hot and dry conditions in several key agricultural regions, adding to uncertainty over global feed grain production. Still, gains were capped by generally favorable crop prospects in the US, where forecasts continue to call for timely rainfall across much of the Midwest after brief periods of heat, supporting expectations for a large harvest. Market participants are also closely monitoring upcoming USDA crop condition reports for any signs that recent warmer weather has begun to affect yield potential.
Corn Rises Toward Multi-Week Highs
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