Corn futures plunge after USDA raises US yield outlook
CORN•Corn futures fell by as much as the 30-cent daily limit after the USDA raised its 2026 US harvest forecast to 16.034 billion bushels from 15.800 billion and its yield outlook to 181.2 bushels per acre from 178.5.
1. USDA raises forecast
The USDA increased its US corn harvest forecast to 16.034 billion bushels and its average yield outlook to 181.2 bushels per acre. The revision lifted its end-of-season stocks outlook by 282 million bushels from a month earlier. Analysts polled by Reuters had expected production and yields to decline after adverse crop weather this summer.
2. Grains fall
Benchmark December corn futures fell as much as the 30-cent daily limit after the report and were down 29-1/2 cents at $4.70-3/4 per bushel, a two-month low. November soybeans fell 16-1/2 cents to $12.71, a six-week low, and December wheat lost 19-3/4 cents to $6.63-1/2, a two-month low.
