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CBOT corn dips on profit-taking as crude oil prices plunge

ReutersMar 10, 2026 7:11 PM

CHICAGO, March 10 (Reuters) - Chicago Board of Trade corn futures eased on Tuesday as spillover pressure from tumbling crude oil prices overshadowed the U.S. Agriculture Department's monthly update of crop supplies and demand.

Fund selling weighed on the market as investors banked profits from the corn's run to 10-month highs on Monday.
Oil prices plunged by about 15% on Tuesday after soaring to their highest levels since 2022 in the previous session as U.S. President Donald Trump predicted the war with Iran could end soon. The war helped propel grain prices higher, partly due to investment flows from commodity funds and as crops like corn and soybeans are widely used for making biofuel. O/R
The U.S. Department of Agriculture left its U.S. corn supply and demand outlook unchanged in a monthly report on Tuesday. The USDA's global supply outlook rose by nearly 4 million metric tons after it trimmed its forecast for Argentina's harvest and raised its view of crops in Brazil and Ukraine.
CBOT May corn CK26 closed 1-1/2 cents lower at $4.52-1/4 per bushel.

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