Corn Prices Climb as Harvest Progress Lags and Crop Conditions Deteriorate

Corn prices climbed on the Chicago Board of Trade on Tuesday as traders monitored crop conditions and harvest progress. December corn futures advanced 4-1/4 cents to settle at $5.01-1/2 per bushel.

The U.S. Department of Agriculture reported that only 54% of the corn crop was in good-to-excellent condition, marking a three-percentage-point drop from the prior week. Analysts had expected a smaller decline of just one percentage point.

Harvest progress also lagged behind expectations, with farmers completing 23% of corn collection. This figure fell short of the five-year average of 27% and was below analyst projections of 26%, according to USDA data.

Separately, President Donald Trump signed an executive order on Monday aimed at expanding access to red dye diesel fuel, which is commonly used in agricultural operations.