U.S. corn futures recoup slice of Friday's steep drop after USDA forecast larger crop

What happened: U.S. corn futures edged higher Monday after Friday's sharp drop, which followed a USDA WASDE report forecasting higher corn production and yields than analysts expected. Key numbers: USDA raised 2026-27 corn production by 234M bushels to 16B, up 1% from a month earlier. Why it matters: Commstock's Brian Grete said the yield increase caught the market wrong-footed and changed money flow, while StoneX's Matt Zeller cited corn tenders after the break lower. USDA also raised its 2026-27 wheat supply forecast by 8M bushels to 1.534B, still the lowest since 1970. Market: -0.0% by next close ($18.50 on Oct 13), +4.5% YTD

U.S. corn futures edged higher Monday after Friday's sharp drop, which followed a USDA WASDE report forecasting higher corn production and yields than analysts expected.

Commstock's Brian Grete said the yield increase caught the market wrong-footed and changed money flow, while StoneX's Matt Zeller cited corn tenders after the break lower. USDA also raised its 2026-27 wheat supply forecast by 8M bushels to 1.534B, still the lowest since 1970. Market: -0.0% by next close ($18.50 on Oct 13), +4.5% YTD