2026.06.2603:14:58UTC+00Corn Pressured at Multi-Month Lows

Corn futures hovered near $4.10 per bushel, struggling to extend their rebound from eight-month lows as weaker crude oil prices and a stronger US dollar continued to pressure the market, even as hot US weather fueled crop concerns. The National Weather Service is forecasting temperatures approaching 100 degrees Fahrenheit this weekend, stretching as far north as the upper Midwest and as far east as the Carolinas. This heat is expected to persist from the Plains to the Atlantic Coast through July 4.

In Brazil, authorities raised the forecast for the country’s 2025/26 second corn crop by 3.4%, though the outlook remains below last season’s record harvest after adverse weather capped yield potential. At the same time, lower crude oil prices continued to weigh on corn, as improved shipping conditions through the Strait of Hormuz bolstered expectations of stronger global oil supply. A firmer US dollar added further pressure amid growing expectations of US interest rate hikes this year, reducing the competitiveness of US corn exports on the global market.