USDA Reports
NASS identified a processing error affecting September corn data for Kansas, Nebraska and national figures. The agency says its October forecast of 181.2 bu. per acre remains unchanged, leaving questions about the yield jump.
Placements shocked to the downside, driving cattle numbers lower
Beyond inventory numbers, placements and heifer retention data will set the tone for feeder futures.
Corn futures fell about 5% as USDA raised the national yield. Former USDA chief economist Seth Meyer says the data raises fair questions, but he doesn’t think sampling alone explains the jump.
Corn, soybeans, and cotton all saw production forecasts increase
Corn yield landed well above analysts’ average pre-report estimate, while soybean yield was slightly above.
All eyes are on whether USDA will cut new-crop corn yield toward the trade average of 177.8 bu. per acre—and what that means for ending stocks.
Stocks surprised to the upside, surpassing all analyst estimates
Minor adjustments to 2025 production indicate little change for 2025-26 ending stocks from previous figures.
The late season decline has kept ratings below year-ago levels