# U.S. grains: Corn hits one-month high ahead of USDA data - AgCanada

> Chicago corn futures hit a one-month high on Thursday as speculators covered short positions, while falling crude prices pulled soybeans lower after four sessions of gains. The most-active corn contract settled at $4.88-1/2 a bushel, its highest close since Aug. 28.

- Date: 2023-09-29 · published 2023-09-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/34105-u-s-grains-corn-hits-one-month-high-ahead-of-usda-data-agcanada
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Short-covering ahead of USDA's quarterly stocks report lifted corn from three-year lows, but the bounce depends on the report, and weaker energy prices weigh on soybean oil and soybean futures.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bullish ▲

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-corn-hits-one-month-high-ahead-of-usda-data

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.