Bearish
Corn futures decline to $521.50 amid profit-taking and harvest progress
In the past 24 hours, corn futures have retreated to $521.50 per bushel, influenced by profit-taking after recent gains and ongoing harvest progress. The U.S. Department of Agriculture's (USDA) latest crop report indicates a reduction in the domestic corn yield forecast to 178.5 bushels per acre, down from 180.7, contributing to a tighter supply outlook. Additionally, the strengthening U.S. dollar and weaker oil prices have added downward pressure on corn prices.
Key points
- Profit-Taking: Traders have sold off positions following recent rallies, leading to a price decline.
- Harvest Progress: The U.S. corn harvest is advancing, with 18% completion as of September 27, slightly ahead of the five-year average.
- USDA Report: The USDA's September report has reduced the U.S. corn yield forecast to 178.5 bushels per acre, down from 180.7, indicating a tighter supply outlook.
- Currency and Energy Markets: A stronger U.S. dollar and lower oil prices have exerted additional bearish pressure on corn futures.
Sources
- Corn Futures Decline on Profit-Taking After Previous Session's RallyTrustFinance News · September 24, 2026
- Corn Hits 3-Week LowTradingEconomics · September 29, 2026
- Corn Futures Edge Higher After USDA Trims Harvest ForecastTrustFinance News · September 14, 2026
- Corn Futures Retreat on Profit-Taking and Weaker Oil PricesTrustFinance News · September 22, 2026
AI-generated from public news sources. Not financial advice.
