Corn Prices Hit Three-Year High Amid El Nino and Dry Weather

The global corn market has reached a three-year high due to the effects of El Nino and dry weather conditions. The price of corn surged to $5.2425 per bushel in global markets, up from its previous peak on July 31, 2023.

Corn prices have risen more than 11% compared to the end of July and over 17% since December 2025. The increased demand for corn used in biodiesel production due to high oil prices is also contributing to the price hike.

Experts warn that El Nino will continue until early next year, potentially leading to further upward movements in corn prices if oil remains at current levels.