Corn futures on the Chicago Board of Trade rose on Tuesday, climbing 2 to 3 cents per bushel as the U.S. Department of Agriculture reported a slight decline in crop condition ratings.
CBOT December corn futures were last up 2.75 cents at $4.9225 per bushel, reflecting market sensitivity to the latest USDA data. The department rated 60% of the U.S. corn crop in good-to-excellent condition as of Sunday, a 1-percentage-point decrease from the prior week. This marks the lowest rating for the 33rd week of the calendar year since 2023, underscoring persistent concerns over crop health.
The USDA’s weekly report, released Monday, follows field assessments by scouts touring major producing states. Observations in South Dakota, a key corn-growing region, indicated lower yield prospects compared to last year and the three-year average, attributed to hot and dry weather conditions. The combination of reduced crop ratings and adverse field reports contributed to the upward price movement in futures markets.
