CBOT corn hits 18-month high on yield concerns
CORN•Corn futures rise on yield concerns
Chicago Board of Trade corn futures rose to an 18-month peak on Thursday as an industry field tour highlighted mixed yield prospects across the U.S. Midwest.
- Traders are closely watching reports from the Pro Farmer field tour after the U.S. Department of Agriculture cut its corn and soybean yield forecasts last week.
- On the third day of a four-day, seven-state event, Pro Farmer scouts projected the average corn yield for Illinois, the No. 2 U.S. corn state, at below the 2025 crop tour average and the tour's three-year average.
- In western Iowa, corn yield potential was down from last year but near the three-year average, scouts on the Pro Farmer tour said.
USDA export sales and contract settlement
Grain market traders and investors have been watching the tour's findings after the U.S. Department of Agriculture projected on August 12 that the United States, the world's biggest corn supplier, would harvest its second-largest crop on record.
The USDA on Thursday reported net export sales of U.S. old-crop corn in the week to August 13 at 232,900 metric tons and new-crop corn sales at 816,100 tons, in line with trade estimates.
The most-active corn contract Cv1 settled 5-1/2 cents higher to $5.03-1/2 a bushel.
