Arid weather in Argentina, the world's second-largest exporter of corn, helped prices for the commodity increase for the first time in 72 hours, Bloomberg reports.
March-delivery corn climbed 0.8 percent to $6 per bushel in Chicago, a slight reversal from the 4.6 percent losses the grain has endured thus far this year. Corn's value increased 52 percent last year.
A "drying trend is likely to return this week, so crop concerns are likely to re-emerge," according to a report from Commonwealth Bank of Australia.
The driest regions of Argentina will not be subject to any rainfall when a storm crosses part of the country, according to a report from T-Storm Weather.
Corn harvesting in Argentina is expected to slip to 20.4 million metric tons from 22.5 metric tons last year as a result of drought conditions harming the crops.
Last month, the Agriculture Department stated corn will total 130 million tons at the end of the season. With the department's new report coming out on Wednesday, a new total for global corn stocks might be 127.3 million tons.
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