USDA announced in late October that its September Crop Production report contained erroneous corn yield estimates for Kansas and Nebraska due to a processing error. The corrections changed state yields and slightly raised the nationwide average yield.
The next Crop Production report and Supply and Demand update is due November 9.
Trust in USDA yield data affects how the market prices the upcoming November report, which could help establish a harvest low for corn. Uncertainty over the numbers can add volatility to corn futures and feed costs.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.