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Corn futures fell to around $4.4 per bushel, reaching a fresh four-week low as easing concerns over fertilizer supply and improving prospects for trade flows weighed on prices. A two-week ceasefire in the Middle East war helped ease fears of prolonged supply disruptions, following weeks of constrained flows through the Strait of Hormuz that had disrupted fuel and fertilizer shipments critical to agricultural production. A sharp drop in crude oil prices also weighed on corn, which is closely linked to energy markets through ethanol demand.
Since the start of the Iran conflict, rising energy costs have been a key concern for farmers, forcing them to reassess planting strategies and potentially reduce input usage, which could raise the risk of lower yields ahead. The USDA indicated that growers plan to scale back corn plantings to about 95.3 million acres in 2026, down from nearly 99 million last year, as elevated fertilizer costs make corn less attractive compared to soybeans.
