Corn Falls to 9-Week Low

Corn futures fell to around $4.6 per bushel, reaching their lowest level in nine-weeks as favorable harvest weather and expectations of a record-large US crop weighed on prices. Scattered rains last week stalled fieldwork in parts of the Midwest, but drier weather forecasted through the end of the week is expected to accelerate harvesting, bringing more supply to market. US farmers now harvested 44% of the corn crop, below trade expectations, according to the USDA’s weekly crop progress report. In its October outlook, the USDA also raised its 2026/27 US corn yield estimate to 181.2 bushels per acre from 178.5 and projected production at 16.03 billion bushels, while ending stocks were forecast at 1.849 billion bushels. Export demand also weighed on prices, as US corn export inspections fell to 26.47 million bushels in the week ended October 15, well below analysts’ expectations of 43.3 million bushels and the lowest weekly total since mid-October 2024.