
US corn futures rose after NASS cut the yield to 179.6 bushels per acre, 1.6 bushels below the October estimate, which was larger than traders expected. US production was estimated at 15.893 billion bushels, 141 million below the prior month, and nearby contracts gained 10 to 12 cents.
A larger-than-expected yield cut reduces US corn supply and supports prices for feed buyers. The smaller crop could raise costs for livestock producers relying on corn.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.