Grain Prices Rally on Weather Forecasts and Black Sea Tensions

U.S. grain markets surged on Friday, August 28, as traders combined forecasts for hotter weather and renewed geopolitical risk in the Black Sea. Corn futures maintained their overnight advance, with December corn climbing to $5.3650 per bushel and September corn adding 1.75 cents to $5.12 per bushel.

The warmer-than-normal temperatures forecasted by NOAA across the central United States from September 4 through September 10 contributed to the rally. Additionally, soybean demand strengthened, with private exporters reporting 6.7 million bushels of soybeans sold to China and another 8.3 million bushels to undisclosed destinations for delivery during the 2026/27 marketing year.

The Black Sea region's influence on global wheat exports also played a role in the market's movement, with September Chicago SRW and Kansas City HRW futures each jumping 24.25 cents to $7.67 and $8.2775 per bushel, respectively.