Corn Futures Soar to Three-Week High Amid Improved Weather Outlook
Corn futures rose to a three-week high on Friday as the market closed out the week. December corn prices increased by 11.25 cents, reaching $4.83.25.
The strong price action in corn was mirrored in soybeans and wheat, with November soybean prices rising to $11.92.50 and September SRW wheat gaining 22 cents to $6.74.75.
According to the Pro Farmer Crop Tour, frequent bouts of rain, hail, and damaging wind have hurt some crops in South Dakota, Nebraska, Iowa, and parts of the central Midwest. However, World Weather Inc. predicts improved weather for late August.
The USDA's weekly crop progress reports on Monday afternoons will be closely watched by market participants. The agency also reported daily sales of 136,000 MT of U.S. soybeans to China during the 2026-27 marketing year.