Corn futures climbed back above $4.10 per bushel, rebounding from the nearly nine-month low hit on June 29, after the USDA projected tighter supplies and lower acreage. In its quarterly grain stocks report, the USDA put June 1 corn inventories at 5.295 billion bushels, coming in below analysts’ estimates. Its annual acreage report showed planted corn area at 95.343 million acres—above trade forecasts but down from 2025 levels and still the fourth-largest area since 1944.
Traders also tracked persistent heat across the US Midwest, which is expected to stress corn crops before conditions moderate later this week. At the same time, the US dollar continued to strengthen as solid economic data bolstered expectations that the Federal Reserve will raise interest rates this year, making dollar‑denominated commodities more expensive for overseas buyers.
Beyond agriculture markets, investors were also awaiting developments from the US‑Iran peace talks in Qatar, amid hopes for a durable ceasefire agreement.