USDA Cuts Corn Harvest Outlook, Futures Soar
Corn futures on the Chicago Board of Trade (CBOT) were steady to higher on Monday, following a reduction in the U.S. Department of Agriculture's harvest projection.
The USDA lowered its U.S. corn harvest outlook on Friday due to hot summer weather concerns about crop damage.
Rising crude oil prices also provided support to grain markets, further boosting corn futures.