From TradingView · · 1m
Corn Futures Test 475'0 After USDA Yield Shock
Corn futures hit 475'0 after USDA raised 2026/27 U.S. corn yield by 2.7 bushels.
In brief
Corn futures hit 475'0 after USDA raised 2026/27 U.S. corn yield by 2.7 bushels. Corn futures tested 475'0 following USDA's higher corn yield estimate, with market reactions pending November WASDE report. Originally reported by TradingView.
USDA Yield Report
USDA raised 2026/27 U.S. corn yield by 2.7 bushels to 181.2 bushels per acre.
“USDA raised the 2026/27 U.S. corn yield by 2.7 bushels to 181.2 bushels per acre”
Market Reaction
December corn closed at 474'2, briefly trading limit-down after USDA report.
“December corn (ZC) closed at 474'2, in the vicinity of 475'0”
Positioning Shift
Managed money net long 376,513 corn futures contracts as of August 25.
“As of August 25, the CFTC showed managed money with a net long of 376,513 contracts in corn futures and options”
Price Decline
December corn down 11.6% from August 28 settlement of 536'4.
“December corn is down about 11.6% from its August 28 settlement of 536'4”
Consolidation Range
Corn traded sideways between 515'0 and 475'0 since July 2025.
“Corn has largely traded in a sideways consolidation range between 515'0 and 475'0 since July 2025”
Key Levels
475'0 is the low of consolidation range and daily level 2.
“475'0 (Daily level 2 / Jul VAH) is also the low of the consolidation range”
Bullish Scenario
Buyers accept above 502'0 to move up to 515'0 then 527'5.
“If buyers accept above 502'0 (current month’s developing upper HVN / VPOC), a possible move up to 515'0 (Daily level 1 / May VAH) could follow”
Bearish Scenario
Sellers hold below 491'0 to move down to 456'0 then 440'0.
“If sellers hold below 491'0 (October’s developing LVN), or if buyers are unable to hold 475'0, a possible move down to the 456'0 area (Jul VAL) could develop”
What matters most
Corn futures tested 475'0 following USDA's higher corn yield estimate, with market reactions pending November WASDE report.
