From The Rio Times · Diego Fernández · · 1m 30s
Corn Fund Drops After USDA Yield Forecast
USDA raises corn yield forecast, cutting corn fund by 2.85%.
In brief
USDA raises corn yield forecast, cutting corn fund by 2.85%. USDA increased US corn yield forecast to 181.2 bushels per acre, causing corn fund CORN to drop 2.85% to US$18.42. Originally reported by The Rio Times.
USDA Raises Corn Yield Forecast
The US Department of Agriculture raised its US corn yield forecast to 181.2 bushels an acre, up 2.7 from September.
Corn Fund Drops 2.85%
Corn fund CORN fell 2.85% to US$18.42 on Friday 9 October after the USDA report.
Soybean Fund Rises 0.51%
Soybean fund SOYB rose 0.51% to US$27.53, while wheat fund WEAT fell 1.41% to US$24.41.
US Corn Production Forecast
The USDA now sees US corn production at 16.034 billion bushels, up 234 million bushels from September.
Ending Stocks Increase
Ending stocks for 2026/27 rose 282 million bushels to 1.849 billion bushels.
Soybean Production Forecast
The USDA raised its soybean forecast to 4.562 billion bushels on a yield of 53.1 bushels an acre.
Wheat Production Forecast
All-wheat production rose to 1.534 billion bushels, from 1.531 billion bushels in September.
Grain Funds Close Mixed
Corn fund CORN down 2.85%, wheat fund WEAT down 1.41%, soybean fund SOYB up 0.51%.
Traders Fall Sharply
Grain traders ADM and Bunge fell 3.10% and 4.72% after the USDA report.
Latin American Impact
Brazil and Argentina face lower export prices as US corn supply increases.
Real Currency Pressure
Brazilian exporters suffer as the real strengthens above 4.99 per dollar.
What matters most
USDA increased US corn yield forecast to 181.2 bushels per acre, causing corn fund CORN to drop 2.85% to US$18.42.
