Key Moments
- Corn futures on the Chicago Board of Trade traded from unchanged to 2 cents higher per bushel.
- The U.S. Department of Agriculture cut its U.S. corn harvest projection after hot summer conditions raised crop-damage concerns.
- CBOT December corn was last quoted up 3/4 cent at $5.31 per bushel, with additional support from firmer crude oil prices.
Market Reaction to USDA Outlook
Corn futures on the Chicago Board of Trade traded steady to higher on Monday, supported by a reduced harvest forecast from the U.S. Department of Agriculture.
The USDA lowered its U.S. corn harvest outlook on Friday after hot summer weather heightened worries about potential damage to the crop.
Corn Price Performance
CBOT December corn was last reported up 3/4 cent at $5.31 per bushel. Across the market, corn contracts moved in a range from unchanged to gains of up to 2 cents per bushel.
| Contract | Exchange | Last Move | Last Price | Intraday Range vs Prior Close |
|---|---|---|---|---|
| December Corn | CBOT | +3/4 cent | $5.31 per bushel | Steady to +2 cents per bushel |
Additional Support from Energy Markets
Rising crude oil prices also helped underpin sentiment in the grain complex, providing an additional tailwind for corn futures.
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