Corn futures held above $5.1 per bushel, staying near their highest level since July 2023 as mounting crop concerns and weather risks supported prices. Extreme heat and heavy rainfall have hit major Chinese corn-growing regions, threatening yields and quality. China imported 1.36 million tons of corn from January–July, up 61.3% year-on-year, which could increase import demand if weather damage worsens. Meanwhile, concerns over the US crop are adding further support, with the USDA’s latest report showing the share of corn rated good-to-excellent falling three percentage points to 57% for the week ended August 23. Strong export demand is also underpinning prices, with cumulative shipments up 26% from a year earlier despite a recent easing in weekly shipments to 1.3 million tones. USDA reported a recent sale of 286,097 tons of US corn to Mexico, including 29,808 tons for 2026/27 delivery and 256,289 tons for 2027/28.