Corn futures fall amid high stocks

Corn futures in Chicago extended their decline on Thursday, marking four sessions of losses, as US inventories exceeded forecasts. Business Recorder reported the contract moved within a tight band of $5 to $5.03 a bushel, easing to $5-1/2 by 0245 GMT.

The US Department of Agriculture said on Wednesday that American producers and grain dealers held 35 per cent more corn on September 1 than a year before. The increase beat expectations and came after a sizeable crop in 2025.

Wheat slipped 0.15 per cent to $6.74-3/4 a bushel, its second straight session of losses, while soybeans on CBOT eased 0.29 per cent to $12.89-1/4 a bushel. Grain consultancy Sovecon said on Wednesday it had reduced its Russia 2026/27 grain export forecast to 44.7 million metric tons, from 49.4 million, and warned that Azov and Black Sea ports would remain closed until 2027.