Corn futures fall as high US stocks weigh on prices
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Chicago corn futures declined for a fourth consecutive session on Thursday as higher-than-expected US stockpiles raised concerns over abundant supplies and pressured prices.
The most-active corn contract fell 0.05% to $5.50 per bushel by 0245 GMT, trading in a narrow range between $5.00 and $5.03 earlier in the session.
The pressure followed data from the US Department of Agriculture showing that US corn stocks stood at 2.095 billion bushels on September 1, up 35% from a year earlier and the highest level in seven years. The figure was also well above market expectations of about 1.918 billion bushels.
The larger stockpile reflects strong supplies following the 2025 record US corn harvest. With the new crop now entering the market, traders are assessing whether demand will be sufficient to absorb the available supplies.
Spot corn prices in the US Midwest also weakened, while improving weather forecasts were expected to support harvesting activity and the movement of grain from farms to storage and processing facilities.
Other grains also came under pressure. Wheat futures declined 0.15% to $6.74-3/4 a bushel, extending losses into a second session. The soybean market also weakened, with the most-active soybean contract down 0.29% to $12.89-1/4 a bushel.
Soybean prices were additionally being monitored ahead of US data on August crushing activity. Analysts expect the US soybean crush to have fallen to an 11-month low of 6.317 million short tons, equivalent to about 210.5 million bushels.
The market is also watching developments in global grain trade. Russian grain consultancy Sovecon lowered its forecast for Russia’s 2026/27 grain exports to 44.7 million metric tonnes from 49.4 million tonnes, citing continued closures of Azov and Black Sea ports.
