CBOT Corn Prices Surge on USDA Forecast of Lower Supplies and Robust Exports

The Chicago Board of Trade (CBOT) saw gains on Wednesday after the US Department of Agriculture released a report predicting lower corn supplies and robust exports. The USDA forecasted that U.S. stocks at the end of the 2026/27 season will fall to 1.653 billion bushels, down from its July estimate of 1.790 billion bushels.

The revision reflects stronger corn exports and a smaller supply to start the season. CBOT's most active corn was last 18-1/4 cents higher at $4.78 per bushel as of 12:30 p.m. CT, while soybeans rose 12-1/4 cents to $11.81 a bushel.

The USDA also reported that U.S. farmers will harvest their second-largest corn crop on record this autumn, with lower yields caused by adverse summer weather being offset by larger plantings.