Corn Futures Drop Following Surprise Yield Increase in January USDA Report
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CBOT corn, soybean futures rally on USDA planting estimates, stocks data
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Corn, soybean futures soar on U.S. dry weather worries
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Corn futures plunged on Monday following USDA's bearish report. Futures fell nearly 6%, marking the largest single-day decline since June 2023. The USDA raised its estimate of the 2025 US corn crop to a record 17.02bil bushels, an increase of 269mil bushels. The agency also increased its estimate of last year’s national average yield to a record 186.5 bpa, from 186 bpa previously. Following the dry conditions last fall, many analysts had expected a reduction in both production and yield estimate
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