USDA Lowers U.S. Corn Yield, Ending Stocks

After surprising the market with a 2.7 bu/acre increase in its U.S. corn yield estimate in October, the USDA reversed course Tuesday, lowering its yield forecast for November and reducing both 2026-27 production and ending stocks by more than expected. In its latest monthly supply-demand update on Tuesday the USDA pegged the average 2026 corn yield at 179.6 bu/acre. That is down 1.6 bu/acre from the October estimate and fell below the average pre-trade guess of 180.6 bu. With harvested area unch