Corn Prices Rise Ahead of USDA Report
Corn futures are rising ahead of the upcoming USDA report, with prices gaining between 3 to 4 cents as traders anticipate potential adjustments in yield and production estimates. The national average Cash Corn price increased by 3.5 cents to $4.845. Recent ethanol production data showed a slight decline from the previous week but remained above year-ago levels due to higher stockpiles. Market expectations, based on a Bloomberg survey of traders, suggest that USDA may reduce its yield estimate for corn by an average of 2.6 bushels per acre (bpa), bringing it down to 178.1 bpa. This would result in lower production estimates and reduced ending stocks for both old and new crops. Argentina’s projected crop output for the 2026/27 season has also increased, with an estimated range of 67.5 to 70.5 million metric tons (MMT), up from a prior estimate of 66 MMT.
Tickers: $CORN