Corn futures are falling 9 to 11 cents at noon, as USDA’s yield lower was far shy of estimates. The CmdtyView nationwide common Money Corn worth was up one other 6 ½ cents at $4.02 ½.
After a month off, USDA launched an up to date Crop Manufacturing report this morning, displaying corn yield at 186 bpa. That was only a 0.7 bpa lower from the September report and dropped output by 62 mbu to 16.752 bbu. Merchants have been on the lookout for a 184 bpa yield quantity.
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As per the WASDE, there was a 207 mbu improve to the 2024/25 carryout quantity at 1.532 bbu, anticipated from the September Grain Shares report, which took whole 2025/26 provide 144 mbu greater to 18.309 bbu. Different demand adjustments got here from exports (+100 mbu), which restricted the elevated the 2025/26 carryout estimate to 44 mbu to 2.154 bbu.
World corn ending shares are estimated at 281.34 MMT, which was a 0.06 MMT discount from the September report. That got here as China was trimmed by 3.16 MMT, offsetting the US quantity.
The USDA additionally launched the backlog of flash sale bulletins from October 1 to November 12, with 4.915 MMT reported as giant gross sales (exceeding 100,000 MT). Of that, 4.367 MMT was for the present advertising and marketing 12 months and 548,640 MT for 2026/27.
Dec 25 Corn is at $4.30 3/4, down 10 3/4 cents,
Close by Money is at $3.92 3/4, down 10 1/2 cents,
Mar 26 Corn is at $4.45, down 10 1/2 cents,
Might 26 Corn is at $4.53 1/2, down 9 1/2 cents,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions.
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