Corn futures are posting midday gains of 12 to 13 cents across most contracts following USDA’s Crop Production and WASDE reports. Spillover support from wheat and increasing Black Sea strikes is supportive. The CmdtyView national average Cash Corn price is 13 cents higher at $4.20 3/4.
This morning’s Crop Production report from NASS showed yield at 180.7 bpa, with planted acreage raised by 1.4 million acres from the June report to 96.7 million acres, with harvested up 1.2 to 88.6 million acres. Production was tallied at 16.013 bbu, which was 13 mbu above the July WASDE number and nearly 80 mbu above estimates.
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