Neutral
Corn futures rebound after initial selloff post-USDA report; December contract at $4.80.
Corn futures experienced a sharp decline following the USDA's October supply and demand report, which projected a larger U.S. harvest and higher ending stocks for the 2026/27 season. However, the market found support as buyers stepped in, with the December contract closing at $4.80 per bushel. The USDA also raised its export forecast by 25 million bushels, indicating potential demand growth.
Key points
- USDA's October report increased corn yield estimate to 181.2 bushels per acre, raising production to 16.03 billion bushels and ending stocks to 1.849 billion bushels.
- December corn futures closed at $4.80 per bushel, recovering from initial losses post-report.
- USDA raised projected corn exports by 25 million bushels, suggesting improved export demand.
Sources
AI-generated from public news sources. Not financial advice.
