CBOT corn higher on demand, weather concerns

ReutersApr 28, 2026 7:47 PM

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CHICAGO, April 28 (Reuters) - Chicago Board of Trade corn futures gained on overly wet weather in the U.S. corn belt, solid export demand and higher crude oil prices. Expectations that farmers will plant less corn due to high costs of fertilizer have also supported corn futures.

Early U.S. soybean and corn planting has made good progress, though storms expected in the U.S. Midwest could delay seeding in some areas.
Midwest rains are expected to taper by the middle of the week so farmers are unlikely to remain sidelined for long.
The U.S. Department of Agriculture on Monday reported that corn planting was 25% complete by Sunday, ahead of the average analyst estimate of 23% and the five-year average pace of 19%.
Oil prices extended gains on stalled efforts to end the U.S.-Israeli war with Iran while the Strait of Hormuz trade route effectively remained shut. Corn and soybeans are key feedstocks for biofuels.
CBOT July corn CN26 settled 6-1/4 cents higher to $4.75-1/2 per bushel.

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