USDA's October WASDE raised the US corn yield to 181.2 bushels per acre from 178.5 in September, and production to 16.034 billion bushels from 15.8 billion. Yields rose in 16 states, with Nebraska up 11 bushels.
Analysts had expected a lower estimate, so the report pushed corn prices down further.
A larger US crop and higher ending stocks add to feed corn supply and weigh on corn futures, which lowers feed grain costs for buyers. Harvest is still incomplete, so the price outlook depends on final yields.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.