Corn prices fell more than 3% to around $5 a bushel, a five-week low, after the USDA reported September 1 inventories well above trade expectations. Stocks totaled 2.095 billion bushels, versus analysts’ estimate of 1.918 billion, indicating a larger-than-anticipated supply cushion. Traders also monitored rain-delayed U.S. Corn Belt harvesting and broader grain-market weakness after China excluded soybeans from proposed tariff reductions on U.S. agricultural goods; corn was included, but the proposal contained no new commitments to buy U.S. corn.