USDA Data Boosts Corn Futures, Soybean Prices Hit New High
Cotton and corn futures markets continue their upward trend in the agricultural commodities market. According to Pro Farmer, December corn rose by 1 1/4 cents to $5.37 3/4, hitting a contract and three-year high overnight. The corn futures market paused today due to steady soybean prices and lower winter wheat futures prices.
The charts remain firmly bullish, and the fundamental picture is also price-friendly for corn. USDA reported weekly U.S. corn export inspections totaled 1.496 MMT during the week ended Aug. 27, up 173,440 MT from the previous week. This exceeded analysts' pre-report range of expectations.
In Brazil, farmers in the center-south region had planted 11% of the 2026-27 first corn crop as of last Thursday, up from 2% a week earlier and four percentage points ahead of last year at this time.