US Corn Prices Reach Three-Year High Amid Weather Worries

Corn prices have surged to a three-year high on the Chicago Board of Trade (CBOT), reaching $5.22 per bushel, as traders assess the impact of adverse weather conditions on US crop yields.

A recent tour of major production states by advisory service Pro Farmer found subpar crops hurt by summer weather, leading them to predict that 2026 corn production will fall below government forecasts.

The CBOT's most-traded corn contract has risen 12% so far this month, with traders also wary of the potential effects of an El Niño weather event on Brazilian corn production and Ukraine's ability to export grain.