Corn Prices Drop Amid Oil Pressure, Crop Progress
Watch: Watch next USDA crop and export reports for supply-demand shifts and crude oil developments affecting commodity prices.
Corn futures dropped sharply on May 6, 2026, with May contracts down 8 1/4 to 12 3/4 cents and national cash prices falling 11 1/2 cents. Open interest rose notably, signaling increased selling. The US corn crop is 38% planted, 4% ahead of the 5-year average, while exports surged in March but weekly export sales are down 18.1% year-over-year. Crude oil fell $6.06 amid US-Iran talks, pressuring corn prices.
The price decline under crude oil pressure alongside strong crop planting and mixed export data suggests potential supply relief and volatility for corn traders.
Evidence
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