Black Sea Disruptions Send Corn Futures Soaring to 3-Year High

Corn futures have held steady above $5.10 per bushel, nearing their highest level in over three years. The current price is being driven by concerns over disruptions to grain exports from the Black Sea region.

Disruptions to shipments from Ukraine and Russia continue, with Ukraine accounting for around 10-11% of global corn exports. This has raised worries about potential supply shortages as the peak export season approaches in October.

The USDA's latest weekly report showed a net reduction of 829,600 metric tons in US corn sales for the 2025/26 marketing year. However, accumulated exports reached 85.06 million tons by August 27, up from 83.49 million the previous week.