Is $7 Corn Possible? Here’s the Scenario That Gets Us There
Corn prices are staging their biggest August rally since 2010, at a time of year when prices don’t typically see this kind of strength. Two veteran market analysts say $6 corn could be here before the end of year. But what about $7 corn? One analyst puts that at a 50/50 chance.
Dan Basse, founder and president of AgResource Company, and Chip Nellinger, founder and partner of Blue Reef Agri-Marketing, says when you look at the explosive run in grain markets, it’s being driven by shrinking U.S. yield prospects, tightening global supplies and rising geopolitical risk out of the Black Sea. But what would it take to reach $7? That’s where El Niño could come into play.
A Global Supply Problem, Not Just a U.S. One
The rally isn’t only about what Pro Farmer Crop Tour scouts found — or didn’t find — in the eastern Corn Belt last week. According to Dan Basse, it’s about a world that’s losing bushels on multiple fronts at once.
Tyne Morgan
August 31, 2026 01:34 PM
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