⛏Corn Futures
CORN
± Mixedrelevance
Traders await USDA report; expectations of lower ending stocks but yield/production estimates are mixed.
Impact on assets 1
Others
Corn Futures Edge Lower Ahead of USDA Crop Report
2▲0 ▼0Impact / 5
Corn futures posted marginal losses on Tuesday, with contracts down 1 to 2 cents across the board, as traders positioned ahead of Wednesday's USDA Crop Production report. A Reuters survey of analysts expects the U.S. corn yield at 182.4 bushels per acre, with production estimated at 15.934 billion bushels and new crop ending stocks seen falling 65 million bushels to 1.725 billion bushels. The latest Crop Progress report showed 61% of the U.S. corn crop rated good to excellent, unchanged from the prior week, though deterioration was noted in several states including North Dakota and Michigan. Brazilian corn exports for August were estimated at 5.17 million metric tons by ANEC, up from 4.08 million metric tons a week earlier.
Traders await USDA report; expectations of lower ending stocks but yield/production estimates are mixed.