27.07.202613:56:11UTC+00Corn Falls from 5-Week High

Corn futures retreated toward $4.50 per bushel, extending their pullback from the five-week high of $4.64 reached on July 24. The market came under pressure from a sharp drop in crude oil prices after the United States and Iran paused military strikes over the weekend, bolstering hopes that diplomatic efforts could ease Middle East tensions and normalize shipping flows through the Strait of Hormuz. Softer energy prices undermined support for corn by dimming the outlook for ethanol demand, which is closely tied to crude.

At the same time, improving weather conditions across the US Corn Belt added to the downside. Forecasts called for temperatures to moderate following the weekend’s heat, while expected rainfall should relieve dryness and support crop development. Traders also kept a close eye on the Black Sea region, where ongoing efforts to sustain grain exports through Ukrainian ports helped temper concerns about potential disruptions to global supplies.