“Weather conditions remain favorable across much of the U.S. as harvest approaches, with extended forecasts continuing to support crop development. Currently, only 5% of U.S. corn acreage is experiencing drought conditions, down from 8% at the same time last year. Overall, the corn crop looks promising; however, reports of tar spot and southern rush emerging in parts of the Midwest are raising some early concerns,” Total Farm Marketing said. “LSEG has raised its 2024-25 Brazil corn production estimate to 137.4 million metric tons, a 4% increase from its previous forecast, citing expectations for a larger planted area. Meanwhile, Argentina’s corn harvest is nearing completion, with progress reported at approximately 97%.”