Corn Futures Slip 8.75¢ from One‑Month High

Corn Futures Slip 8.75¢ from One‑Month High

Investing.com reported that on Wednesday, corn futures on the Chicago Board of Trade declined after an early‑session rally to one‑month peaks. The September corn contract settled down 8‑3/4 cents at $4.35 per bushel, having reached $4.44‑3/4 earlier in the session. The December contract fell 8 cents to $4.56‑1/4 per bushel, pulling back from $4.65‑3/4, which was its highest level since June 3.

The price retreat was attributed to revised weather forecasts that lowered expectations of Midwest heat stress for mid‑July, reducing concerns about stress on corn crops as they entered pollination. A stronger U.S. dollar also weighed on CBOT grain prices by making U.S. grains less competitive internationally.

In parallel, CBOT grain futures showed limited reaction to a roughly 5% surge in crude oil futures, which jumped after U.S. President Donald Trump stated that an interim deal to end the Iran war was "over."

The U.S. Energy Information Administration reported that corn‑based ethanol production for the week ended July 3 was 1.093 million barrels per day, a decline of 24,000 barrels per day from the prior week. Ethanol stockpiles fell to 23.928 million barrels, down 762,000 barrels from the previous week and marking the lowest level since January.

This article was generated with AI assistance and reviewed by an editor, as noted in the publication disclaimer.