FX.co ★ Corn Hits 3-Week Low

Corn futures slipped to around $5.20 per bushel, a three‑week low, as broad-based selling across grain markets accelerated in the wake of a sharp drop in soybean prices. Soybeans came under pressure after China excluded them from proposed tariff reductions on US agricultural products, triggering position liquidation that spilled over into corn.

By contrast, corn was included in China’s proposed tariff cuts, along with several other US farm goods, but the announcement did not include any new commitments to purchase US corn. On the export front, US corn inspections totaled 1.57 million metric tons for the week ended September 24, down from 1.96 million tons the previous week, though still near the upper end of market expectations.

Domestically, the US corn harvest was 18% complete as of September 27, slightly ahead of the five‑year average, with 56% of the crop rated in good or excellent condition. Market participants are now focused on the USDA’s September 30 Grain Stocks report for updated estimates on domestic supply levels.