U.S. corn futures hit an 18-month high after Pro Farmer tour signals lower-than-expected yields in key growing regions.
Corn futures climbed above $5 per bushel for the first time since February 2025, driven by disappointing yield estimates from the Pro Farmer Midwest Crop Tour. Reports from western Iowa and Illinois indicated weaker-than-anticipated crop conditions, fueling concerns over tightening global supplies.
The rally follows a period of stable prices, with the last $5 breach occurring nearly a year and a half ago. Analysts had expected modest yield improvements, but the tour’s findings suggest potential shortfalls in major corn-producing states.
Markets reacted swiftly, with futures extending gains as traders priced in reduced harvest expectations for the upcoming season.