US Corn Prices Retreat from Three-Year Highs Amid Weak Export Demand
Corn futures have retreated from three-year highs as weak US export demand weighed on the market. The price fell below $5.2 per bushel, with corn export sales for the week ended September 17 coming in at just 838,000 metric tons, at the lower end of analyst expectations.
Total commitments for the 2026/27 marketing year were 29% below a year earlier, adding to supply concerns. Wet conditions and rainfall across parts of the Midwest have limited harvest activity, supporting crop basis levels, with cooler-than-average temperatures and above-normal rainfall expected across the Corn Belt over the next two weeks.
The latest US-China summit offered little progress on agricultural trade, while elevated Treasury yields and a stronger dollar made US crops more expensive for overseas buyers. The USDA's September outlook cut its 2026/27 US corn yield estimate to 178.5 bushels per acre and production to 15.8 billion bushels, pointing to a tighter supply outlook.