Corn Prices Hold Near Multi-Week Highs Amid Global Supply Concerns

Corn futures remain near their highest level since late May, hovering above $4.5 per bushel amidst growing concerns over global supplies.

The USDA's latest crop ratings showed that only 63% of the country's corn crop is rated good-to-excellent, down from 67% a week earlier and below market expectations.

Geopolitical tensions continue to weigh on the market, with ongoing attacks between Russia and Ukraine threatening Black Sea grain exports and disrupting port infrastructure and shipping routes.