GRAINS-Chicago corn rises on mixed yield prospects across US Midwest
CORN•Market backdrop
- The U.S. dollar nursed steep losses on Thursday, hovering near three-month lows as investors digested measures announced by the U.S. Treasury Department to help calm the bond market that had seen long-end yields hit their highest since 2007.
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Chicago corn rises as Pro Farmer tour highlights mixed Midwest yields
BEIJING, Aug 20 (Reuters) - Chicago corn futures rose on Thursday as an industry field tour highlighted mixed yield prospects across the U.S. Midwest, while soybeans and wheat fell.
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The most-active corn contract Cv1 on the Chicago Board of Trade (CBOT) gained 0.3% to $4.99-1/2 a bushel by 0131 GMT. Soybeans Sv1 lost 0.1% to $12.36-1/2 a bushel and wheat Wv1 fell 0.25% to $6.95-3/4 a bushel.
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Traders are closely watching reports from the Pro Farmer field tour after the U.S. Department of Agriculture (USDA) cut its corn and soybean yield forecasts last week.
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Corn yield potential and soybean pod counts across western Iowa are down from last year but remain near or above three-year averages, Pro Farmer scouts said on Wednesday.
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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 184.19 bushels per acre (bpa), below the 2025 crop tour average of 199.57 bpa and the tour's three-year average of 199.15.
