CBOT corn rises on heat, crude oil rally

Chicago Board of Trade corn futures ticked up as oil prices rose because of the use of corn in the production of biofuels. Hot, dry weather forecast for the U.S. Midwest also added support.

• CBOT September corn CU26 settled up 2 cents, at $4.64 per bushel.
• Most-active December corn CZ26 ended up 2-3/4 cents at $4.87-1/2 a bushel.
• The USDA reported net U.S. corn export sales last week totaling 332,679 metric tons for shipment in the 2025/26 season, below trade estimates for 400,000 to 800,000 tons. Net new-crop sales of 701,505 tons were at the high end of a range of analyst estimates of 400,000 to 800,000 tons.
• Oil prices topped $100 on Thursday, their highest levels in nearly two months, after Yemen's Houthis said they had attacked two Saudi oil tankers in the Red Sea, causing further global supply disruptions following a near-halt in trade through the Strait of Hormuz. LCOc1
• Hot, dry weather forecast next week for the western corn belt threatened crop development, according to analysts.