Corn Soars Past Three-Year Highs Amid Summer Rally

U.S. grain markets continued their summer rally on August 26, with corn futures reaching three-year highs above $5 per bushel.

Corn led the move, with September futures gaining 13.5 cents to $5.14 per bushel and December futures climbing another 13 cents to $5.3650.

The rally was driven by technical buying, stronger domestic and export demand, weather uncertainty, and global supply risks.

Weather remains a crucial factor for the Corn Belt as crops approach the final stages of the growing season, with NOAA projections indicating that portions of the Upper Midwest could receive rain later this week and into the weekend.

The rally has strengthened the hand of growers with unpriced production, but also raises the likelihood of profit-taking if traders decide to lock in recent gains.