Corn futures reached highest close since June.

May Corn futures reached their highest closing level since June 6, recovering from early week losses. While prices remain below the March 9 spike high, market focus is shifting toward the upcoming planting season. Rising fertilizer prices and supply concerns, influenced by geopolitical factors in the Middle East, could prompt some producers to shift acreage from corn to soybeans. This potential decrease in corn production remains a key talking point for traders. Weekly export sales for Corn futures were reported at 1.172 million metric tons. While this figure was within the broad expected range, it reflects a 22% decline week-over-week.