Corn futures were caught off-guard by a surprise hike to corn yield on Friday, as contracts are trading with 26 to 28 ¼ cents at midday, nearing the 30 cent limit. The CmdtyView national average Cash Corn price is down 28 ¼ cents at $4.34 1/2.
Crop Production data from this morning showed US corn yield at 181.2 bpa, up 2.7 bpa from the September report. That took the production total 234 mbu higher to 16.034 bbu and was well above trade estimates.