Corn Futures Rise on US Harvest Concerns

Corn futures rose toward $5.1 per bushel, hitting a one-week high as concerns over delayed US harvesting and weaker crop conditions supported prices. Only 23% of the US corn crop had been harvested by October 4, below the 27% five-year average and 26% expected by analysts, after heavy Midwest rainfall delayed fieldwork. The share of the crop rated good-to-excellent also fell to 54% from 57% a week earlier. Meanwhile, export demand remains relatively firm, with 2026/27 shipments running 4.4% above last year at a record pace for this point in the marketing year, despite weekly inspections falling to 1.368 million tonnes. Elsewhere, Brazil’s first corn crop was 38% planted, slightly behind 40% a year earlier. Traders now await Friday’s USDA report for updated production and yield estimates, with current forecasts at 178.5 bushels per acre and 15.8 billion bushels of output.