Commodities
Corn Futures Rise on Technical Buying and Soybean Gains
Corn futures rose 6 cents to $5.33 3/4, near its daily high, due to fresh technical buying from shorter-term speculators and gains in soybean and meal markets.
Traders are awaiting the USDA's monthly S&D report on Friday, which is expected to show a U.S. average corn yield of 178.1 bu. per acre, down from the August estimate of 182.9 bushels.
The European drought and Ukraine's export bottlenecks have created an opportunity for U.S. corn exports to the EU, with Expana cutting its 2026-27 EU corn production forecast to 46.2 MMT, the smallest volume since 1992.