13.05.202601:56:32UTC+00Corn Holds Firm Despite Ample US Supplies

Corn futures traded above $4.60 per bushel, holding early gains near one-year highs after the USDA’s latest outlook signaled a modestly tighter US supply picture for the 2026/27 marketing year. The agency projected corn production at 15.995 billion bushels—6% below the prior year’s record crop but still the second-largest harvest on record—while ending stocks were estimated at 1.957 billion bushels, down 185 million from a year earlier and slightly above market expectations.

Exports are forecast to edge down to 3.15 billion bushels amid softer external demand, while domestic use is expected to remain broadly stable. Despite the still-ample overall supply, prices found support from a firmer tone across grain markets as the USDA’s projections underscored a gradually tightening long-term balance sheet, reinforced by strong biofuel demand linked to elevated crude oil prices and ongoing geopolitical tensions.

Corn prices are up roughly 9% so far this year, and further gains could help push cash prices closer to breakeven levels for US producers.