24.06.202603:45:50UTC+00Corn Extends Decline to 9-Month Low

Corn futures extended their decline below $4.10 per bushel, reaching their lowest level since early September 2025, pressured by weaker crude oil prices and favorable U.S. crop weather. Ample rainfall and moderate temperatures across the Midwest continued to support robust crop conditions, weighing on prices, though traders cautioned that excessive moisture could eventually hinder crop development.

At the same time, progress in ongoing U.S.–Iran peace talks has improved shipping flows through the Strait of Hormuz, bolstering expectations of a quicker recovery in global supply and putting additional downward pressure on crude oil. Because corn is a key feedstock for biofuel, its prices often move in tandem with crude oil.

A firm U.S. dollar further undercut the market by making American commodities more expensive for overseas buyers. Still, strong export demand offered some support: the USDA reported private sales of 100,000 metric tons of corn to Mexico, including 30,000 tons for delivery in the 2025/26 marketing year and 70,000 tons for delivery in 2026/27.