Crude Price Plunge Hits Corn Futures Hard

Corn futures have retreated from their five-week high of $4.64 per bushel, which was hit on July 24.

The decline comes as crude oil prices plummeted after the US and Iran paused military strikes over the weekend, sparking hopes for diplomatic efforts to de-escalate tensions in the Middle East.

This shift has had a ripple effect on grain markets, with lower energy prices weighing heavily on biofuel margins and reducing demand expectations for corn-based ethanol.