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Corn futures traded slightly lower Thursday morning after closing Wednesday down 1 to 4.5 cents. USDA's NASS report put US corn yield at 179.6 bushels per acre, down 1.6 bpa, with production 141 million bushels lower; ending stocks were cut to 1.758 billion bushels.
A smaller US crop and trimmed demand tighten the balance sheet, which supports corn prices and feed costs for buyers. Strong Brazilian export estimates offset some of the tightening.
Not enough comparable past events yet for a historical read.
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.