Corn Futures Soar Above $5 as Weaker Crop Tour Results Raise Supply Concerns
Corn futures have reached their highest level in 18 months, surpassing $5 per bushel for the first time since February 2025. This surge comes as weaker-than-expected US crop tour results add to global supply concerns for corn, a staple grain.
The Pro Farmer Crop Tour found lower corn yields in Illinois and western Iowa, with the latter being the country's top producer. In Illinois, the average corn yield was estimated at 184.19 bushels per acre, down 7.7% from last year and 7.5% below the three-year average.
Naomi Blohm, an analyst at Total Farm Marketing, noted that $5 will likely hold as significant resistance for now as we approach harvest. This could trigger farmers to boost sales, helping to improve near-term availability and put downward pressure on prices ahead.