USDA Cuts Corn Harvest Outlook, Futures Prices Rise
Corn futures rose after the United States Department of Agriculture (USDA) cut its harvest outlook.
The USDA reduced its corn yield forecast to 177.6 bushels per acre, down from its previous estimate of 178.5 bushels per acre.
This news has led to a surge in corn futures prices, as investors adjust their expectations for the upcoming harvest season.