Corn Futures Weaken as Strong US Dollar and Rain Disrupt Fieldwork

Corn futures are struggling to recover from a strong US dollar, falling 6-7 cents. The USDA reported daily sales of 100,000 MT to Mexico for the 2026-27 crop year.

A ban on diesel in the US could rapidly fill domestic storage, depress fuel prices, and shrink gasoline supply, according to Goldman Sachs Group Inc.'s co-head of global commodities research.

Rainfall in the northern Midwest has disrupted fieldwork, with some areas needing a few days to dry out. Another wave of rain is possible late week into early next week.

The European Union's corn output forecast was cut sharply by Coceral from 52.7 MMT to 48.6 MMT this year.