$5 Corn Futures Reach Highest Level in 18 Months Amid Global Supply Concerns
Corn futures have reached their highest level in 18 months, surpassing $5 per bushel for the first time since February 2025. The surge was driven by weaker-than-expected US crop tour results, which added to global supply concerns for the staple grain.
The Pro Farmer Crop Tour reported lower corn yields in Illinois and Western Iowa, with estimates down 7.7% from last year's average yield of 199.57 bushels per acre in Illinois. The USDA had previously estimated an average yield of 212 bushels per acre for the state, a decline of 0.9% from 214 bushels last year.
In Iowa, three districts saw lower corn yields, with District 4 experiencing an 8.5% drop from a year ago and 0.5% below the three-year average. The region has also been affected by severe storms and sweltering temperatures earlier in the summer.