Bullish
Corn futures surge to 15-month high amid yield concerns and Black Sea tensions.
Corn futures have reached a 15-month high, driven by concerns over U.S. yield reductions and ongoing disruptions in the Black Sea region. The Pro Farmer Crop Tour estimates a national average yield of 173.2 bushels per acre, approximately 7.5 bushels below the USDA's August estimate, indicating potential production shortfalls. Additionally, continued Russian attacks on corn-carrying ships in the Black Sea are further constraining global corn supplies.
Key points
- Pro Farmer Crop Tour forecasts U.S. corn yield at 173.2 bushels per acre, 7.5 bushels below USDA's August estimate.
- Russian attacks on Black Sea corn shipments continue, tightening global supply.
- U.S. corn futures reach 15-month high, with December contract at $5.21 per bushel.
Sources
AI-generated from public news sources. Not financial advice.
