Corn Futures Reach New Highs Amid Yield Expectations and Export Disruptions

Corn futures on the Chicago Board of Trade rose by 3 to 5 cents per bushel on Wednesday, reaching new highs across the board.

The December corn contract climbed to $5.30 per bushel, marking the highest level since July 2023, according to a continuous chart of the most-active corn contract.

Traders lowered their expectations for yields, contributing to the price increase, while disruptions in Black Sea grain exports also provided support.

The U.S. Department of Agriculture reported that weekly crop condition ratings fell more than traders had anticipated, adding further upward pressure on prices.