TREE NEWS reports: CBOT corn futures fell 3.95% to $4.8050 a bushel on Friday, their largest decline since 2023, after the USDA’s monthly stocks report surprised with an upward revision to production. The Bloomberg Grains Subindex dropped 1.88% to 32.4447, while CBOT wheat lost 2.01% to $6.7075 a bushel. CBOT soybeans rose 0.37% to $12.9225 in a V-shaped reversal after the report.
Chicago corn futures post biggest drop since 2023 after USDA raises output forecast
AI take
The surprise was in the revision itself, not the direction: a monthly stocks report moving corn this hard suggests the market had positioned for tighter supply, and the Bloomberg Grains Subindex decline shows the repricing spread across the complex. Wheat followed corn lower, while soybeans' V-shaped reversal signals the report hit different crops unevenly rather than triggering a broad agricultural selloff. Whether corn holds near these levels or the revision gets contested in the next report is the open question.
Generated by AI for reference only.
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