CBOT corn settles up on demand, weather uncertainty

• CBOT September corn CU26 settled up 4-3/4 cents, at $4.49-1/2 per bushel.
• Most-active December corn CZ26 ended up 5-1/2 cents at $4.73 a bushel.
• After a week of scorching temperatures in the U.S. Midwest crop belt, analysts expect the agency will report corn ratings at 66% good-to-excellent. Last week, the USDA estimated 68% of the corn crop was in good-excellent condition.
• A cooler forecast in the coming weeks should limit crop stress, according to forecaster Commodity Weather Group.

• Oil prices settled over 1% higher on Monday after volatile trading through the session, as traders weighed hopes of renewed U.S.-Iran negotiations against Yemen's Houthi imposition of a naval blockade against Saudi Arabia.
• Prices often follow oil because of corn's role in the production of biofuels.
• Russia attacked two Ukrainian Black Sea port cities on Friday, killing three people, officials said, while Ukraine pressed on with its own campaign to disrupt logistics for Moscow's military and isolate Russia-annexed Crimea.
• The USDA reported exporters sold 100,000 metric tons of corn to Colombia for 2026/2027 delivery.

Chicago Board of Trade corn futures rose on Monday on worries about the effect of last week's hot weather spell in the U.S. Midwest, strong demand and renewed fighting in and Ukraine.