Key facts
- December corn fell 5 3/4 cents to $4.42 1/2 a bushel, its lowest since July 6.
- US farmers had harvested 74% of the 2026 corn crop by Sunday, USDA data showed.
- The Kremlin said Russia will join three-way peace talks with Ukraine and the US in Abu Dhabi on November 10-11.
- USDA reported daily export sales of 315,000 metric tons of US corn to Mexico and 136,000 metric tons to South Korea.
- Andrew Whitelaw of Episode 3 said an end to hostilities could pressure an already bearish market.
Chicago corn futures fell to a four-month low on November 4, 2026, as an outlook for ample US supply and prospects for peace in the Black Sea region weighed on prices. The most-active December contract fell 5 3/4 cents to $4.42 1/2 a bushel, its lowest since July 6, according to Reuters. Losses in soybeans and wheat also spilled over into corn, and harvest-related commercial hedge selling added pressure.
The USDA reported daily export sales of 315,000 metric tons of US corn to Mexico and 136,000 metric tons to South Korea, both for delivery in the 2026-27 marketing year. US farmers had harvested 74% of the 2026 corn crop by Sunday, slightly ahead of analyst expectations, USDA data showed. The harvest progress and an absence of Chinese demand offset news of private sales of 1.7 million metric tons of US corn to Mexico reported by the USDA on Monday.
The Kremlin said Russia will take part in three-way peace talks with Ukraine and the United States in Abu Dhabi on November 10-11, confirming a meeting announced by US envoy Steve Witkoff. Andrew Whitelaw of Australian agricultural consultancy Episode 3 said: "With pent-up supplies of Russian and Ukrainian grain, if - and that is a big if - we see an end to hostilities, then we could see further pressure on an already relatively bearish market."