Corn futures eased to $4.5 per bushel, pulling back from recent 10-month highs, as traders adjusted positions ahead of a critical USDA planting outlook report due later today.

The USDA’s prospective planting report, set for release on Tuesday, is expected to reflect shifts in US farmers’ planting plans due to the Iran conflict, with analysts anticipating fewer corn acres this season, amid rising fertilizer and fuel costs.

Adding to market volatility, oil prices remained elevated following reports of escalating strikes on regional energy infrastructure and speculation that President Donald Trump may end US military operations in Iran, even if the Strait of Hormuz stays closed.

On the demand side, the USDA confirmed export sales of 145,000 metric tons of US corn to unknown destinations for the 2025/26 marketing year.

Additionally, US corn export inspections for the week ending March 26 totaled 1,789,524 bushels, exceeding trader expectations.
Source: Trading Economics