
The USDA trimmed its US corn yield from 11.4 to 11.3 tonnes per hectare, cutting production by 3.6 million tonnes to 403.7 million and final stocks by 2.3 million to 44.7 million tonnes. Chicago corn and wheat rose after losses earlier in the week, with July 2027 corn up $3.50 to $188.10 per tonne and wheat up $1.50 to $226.20.
A smaller US corn crop and tighter ending stocks support global corn prices and raise the cost of imported corn for feed buyers, with wheat firming in sympathy.
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.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.