Commodities
Corn Prices Slide Amid Ukraine Export Forecast Cut
Corn futures have been struggling to rebound from a four-week low of $4.4 per bushel, reached on August 5. Traders are assessing crop conditions and weather forecasts ahead of this week's USDA supply-and-demand report.
Rain and milder temperatures in the US Midwest during July eased crop stress after weeks of excessive heat and dryness. However, 28% of US corn was affected by drought, according to the USDA.
Ukraine, a major corn producer, cut its 2026/27 grain export forecast by up to 12% due to Russian attacks on the Odessa port hub. This could result in an 11 million-ton grain storage shortfall, Ukraine's agriculture ministry warns.