USDA Report Expected to Show Corn Yield Cut Amid Market Rebound

Corn futures are experiencing a midday bounce on Thursday, following Wednesday's weakness. The price has risen by 3 to 4 cents in the morning session.

The CmdtyView national average Cash Corn price has increased by 3 1/2 cents to $4.84 1/2. The weekly EIA report showed a decline in ethanol production, down 11,000 barrels per day from the previous week, while stocks saw an increase of 152,000 barrels.

A Bloomberg survey of traders predicts that the USDA will cut yield on Friday by an average of 2.6 bushels per acre to 178.1 bpa. Production is expected to drop by 236 million bushels from August to 15.777 billion bushels.