CBOT Corn Futures Soar on Revised USDA Estimates

Corn futures on the Chicago Board of Trade (CBOT) surged higher on Wednesday following updated supply/demand estimates from the United States Department of Agriculture (USDA).

The USDA trimmed its yield forecast for the 2026-27 corn crop to 180.7 bushels per acre, down from July's estimate of 183.0 bu/ac.

This reduced yield was offset by a significant increase in planted area, which led to a revised production total of 16.013 billion bushels - just shy of the record.

Soybean futures also benefited from the corn rally, despite lower-than-expected yields and ending stocks for both the current and new marketing years.