CBOT corn notches contract highs on Black Sea tensions
CORN•Corn futures hit fresh multiyear and contract highs
Chicago Board of Trade front-month corn futures set fresh multiyear and life-of-contract highs on Friday on support from doubts over U.S. corn yields.
The most-active corn contract Cv1 settled 3 cents higher to $5.36-1/2 per bushel.
Crop concerns in the U.S., Europe and South America
- A major Midwest field tour last week found subpar crops due to adverse summer weather, estimating that U.S. 2026 corn production would fall well below government forecasts.
- The advisory service Pro Farmer last Friday estimated U.S. 2026 corn production will fall well below government forecasts, after a tour of seven major production states found sub-par crops hurt by adverse summer weather.
- Corn futures fell the previous day after a short-lived round of profit-taking.
- Brazil's 2026/27 total corn crop is seen at 145.6 million metric tons, consultancy firm Safras & Mercado said on Friday, raising its outlook by some 0.4% from its previous 145 million tons estimate.
- French grain maize crops resumed their decline last week after a brief pause, with their condition at its lowest level in at least 15 years, a sign of further damage from a prolonged hot and dry summer, data from farm office FranceAgriMer showed on Friday.
- In a weekly cereal report, FranceAgriMer estimated that 28% of the grain maize crop in the European Union's biggest producer was in good or excellent condition by August 24, down from 29% a week earlier.
