Commodities
Corn Futures Rally to Three-Year Highs on Wheat Spillover and Supply Concerns
Corn futures have reached fresh three-year highs, closing between 10 to 13.5 cents higher on Wednesday.
The rally in corn prices can be attributed to spillover strength in wheat and supply concerns over the US crop.
The CmdtyView national average Cash Corn price was up another 13.5 cents at $4.85, while export sales data is set to be released on Thursday, with analysts expecting net reductions of 200,000 MT to net sales of 400,000 MT for 2025/26 sales in the week ending August 20.
New crop bookings are expected to range from 0.6-1.6 MMT in that week.