Corn Futures Rise on Yield Concerns as USDA Report Looms Large

U.S. corn futures rose over 1% on August 24, driven by persistent yield concerns that have led to buying pressure in the market. This comes as the USDA has already lowered its corn yield outlook, and private projections suggest potentially smaller production.

The uncertainty surrounding final yields could tighten supplies, influence commodity prices, and reshape farm revenue expectations, marketing strategies, and risk management across the Corn Belt.

USDA's September World Agricultural Supply and Demand Estimates (WASDE) is now a critical report for the market, as it could become one of the most consequential reports of the season. The August WASDE already reduced USDA's corn yield estimate, and additional production uncertainty has emerged due to weather problems affecting key growing regions.

Naomi Blohm, senior market adviser with Total Farm Marketing, estimated 2026/27 U.S. corn ending stocks at 1.65 billion bushels and the stocks-to-use ratio at 10.1%, the lowest level in four years.