Corn Market Discussion
Corn prices are on the rise.
September 8, 2026
by Steiner Consulting Group
Building on Sept. 1’s feed discussion, corn prices are on the rise. Both September and December 2026 corn futures prices reached new highs Sept. 1. September 2026 corn futures closed at a new high of $5.22 per bushel (bu.), which is a $1.05-per-bu. increase (+25%) over the most recent low of $4.17 per bu. reached late last June.
The pattern is similar for December 2026 corn futures as they also settled at a new high of $5.46 per bu., which is a $1.16-per-bu. increase (+27%) compared to the most recent low of $4.30 per bu. from late last June. Both September and December 2026 corn futures exceeded their former highs, which occurred in late 2023, just within the past week.
Cash corn prices are following suit. The average price for U.S. No. 2 yellow corn (bulk; Southwest; conventional, terminal elevators) in the Omaha market was $4.27 per bu. Aug. 6. By Aug. 27, that price climbed to $4.96 per bu., a $0.69 increase (+16%) per bu.
For the Southern Plains (Texas Triangle) market, the increase is more pronounced. Corn prices there rose from $4.44 per bu. on June 11 to $5.60 per bu. by Aug. 27, an increase of $1.16 (+26%) per bu. and more than $0.50 per bu. higher than the Omaha market.
Supply concerns are likely the reason for the corn price increases. Domestically, the latest World Agricultural Supply and Demand Estimates (WASDE) outlook for corn, as of Aug. 12, noted that domestic use will likely remain unchanged as supplies and endings stocks will decrease while exports will increase.
Supply concerns are likely the reason for the corn price increases.Subsequently, the USDA, while noting that the estimated corn harvest this season is still expected to be the second-largest on record, lowered its projected corn yield forecast from last month by 2.3 bu. per acre to 180.7, which is down 5.8 bu. per acre from last year.
Further downward revisions might be likely as nearly 30% of the U.S. corn area has been under moderate to exceptional (D1-D4) drought conditions since late July. On-the-ground scouting data reported from the 2026 Pro Farmer Crop Tour suggest that a figure of 173.2 bu. per acre may be more accurate.
A heat dome over the Midwest in mid-July and above-normal nighttime temperatures for irrigated fields in August are also potentially headwinds to increasing the corn supply.
Keep in mind with these estimated yields that most of the corn has yet to be harvested, so these estimates are still fluid. The next WASDE report will be released Sept. 11.
Editor’s note: Reprinted with permission from the Sept. 2, 2026, Daily Livestock Report published by the Steiner Consulting Group, DLR Division. For more or to subscribe, visit www.dailylivestockreport.com. [Lead photo by Simon Skafar from Getty Images.]
Angus Beef Bulletin EXTRA, Vol. 18, No. 9-A
Topics: Feedstuffs , Management , Nutrition
Publication: Angus Beef Bulletin
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