CBOT corn up on rising crude oil prices

ReutersApr 27, 2026 6:37 PM

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CHICAGO, April 27 (Reuters) - Chicago Board of Trade corn futures touched 10-month highs on Monday as crude oil prices moved higher, with light concerns about excess rain in the U.S. Midwest also helping prices.

Oil prices climbed about 3% to a two-week high on Monday as peace talks between the U.S. and Iran stalled and shipments through the Strait of Hormuz remained limited, keeping global oil supplies tight.
Early U.S. soybean and corn planting has been making good progress, though storms expected in the U.S. Midwest could delay seeding in some areas.
Farmers around the world are facing the second surge in fertilizer prices in four years due to the U.S. and Israeli war on Iran.
The Middle East is a leading fertilizer production hub, and much of the global fertilizer trade typically passes through the Strait of Hormuz, which has seen traffic brought to a standstill by the conflict.
Corn prices were also underpinned by robust export demand, with another South Korean corn purchase reported on Monday.
CBOT July corn CN26 settled 5-3/4 cents higher to $4.69-1/4 per bushel.

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