Corn futures closed higher on Tuesday after a USDA report showed June 1 grain stocks well below expectations. The National Agricultural Statistics Service reported corn stocks at 5.295 billion bushels, nearly 120 million bushels below estimates and under the lowest trade guess. Acreage data came in at 95.343 million acres, slightly above the March intentions and trade estimates. Weekly crop progress showed 67% of the US corn crop in good to excellent condition, down one point from the prior week. StatsCanada reported Canadian corn acreage for 2026 at 3.963 million acres, a 4.8% increase year over year.