Corn Futures Soar Above $5 Per Bushel Amid Global Supply Concerns

Corn futures have reached their highest price in over 18 months, surpassing $5 per bushel for the first time since February 2025. According to Bloomberg's Ben Westcott, weaker-than-expected US crop tour results are adding to global supply concerns for corn.

The Pro Farmer Crop Tour reported corn yields below last year's levels in Western Iowa and Illinois, which are the country's top producing states. This is in line with subpar crop prospects in four other Midwestern states surveyed earlier this week.

The severe storms that hit parts of the central US have also taken a toll on corn production, as well as the sweltering temperatures experienced earlier in the summer.