CBOT corn higher under support from crude oil

ReutersMay 4, 2026 7:15 PM

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CHICAGO, May 4 (Reuters) - Chicago Board of Trade corn futures inched higher on Monday on stronger crude oil prices, while also gaining support from the risk of rain delaying U.S. spring planting.

Traders will assess the U.S. Department of Agriculture's weekly crop progress report for planting progress. Some farmers in the central and eastern U.S. grain belt have yet to begin planting corn and soybeans due to wet, cold conditions.
Strength in crude oil during the U.S.-Israeli conflict with Iran has supported grain prices as corn and soybeans are common feedstocks for biofuel.
Oil prices rose 4% on Monday on worries over supply disruptions due to renewed Gulf tensions, including a United Arab Emirates notice that its air-defense systems were responding to a missile threat and a fire on a South Korean vessel. O/R
CBOT July corn CN26 settled 5-1/2 cents higher to $4.85-3/4 a bushel.

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