{"id":337531,"date":"2021-09-10T20:26:00","date_gmt":"2021-09-10T17:26:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/commodities-corner-corn-futures-eye-first-gain-in-5-sessions-wheat-prices-fall-after-usda-report\/"},"modified":"2021-09-10T20:26:00","modified_gmt":"2021-09-10T17:26:00","slug":"commodities-corner-corn-futures-eye-first-gain-in-5-sessions-wheat-prices-fall-after-usda-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/commodities-corner-corn-futures-eye-first-gain-in-5-sessions-wheat-prices-fall-after-usda-report\/","title":{"rendered":"#Commodities Corner: Corn futures eye first gain in 5 sessions, wheat prices fall after USDA report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40c1d3cab7e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40c1d3cab7e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/commodities-corner-corn-futures-eye-first-gain-in-5-sessions-wheat-prices-fall-after-usda-report\/#USDA_raises_20212022_US_corn_production_forecast\" >USDA raises 2021\/2022 U.S. corn production forecast<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/commodities-corner-corn-futures-eye-first-gain-in-5-sessions-wheat-prices-fall-after-usda-report\/#Myra_P_Saefong\" >Myra P. Saefong<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Commodities Corner: Corn futures eye first gain in 5 sessions, wheat prices fall after USDA report<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"USDA_raises_20212022_US_corn_production_forecast\"><\/span>\n  USDA raises 2021\/2022 U.S. corn production forecast<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000403250\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000403250\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Corn futures turned higher Friday, finding support a day after settling at the lowest since January, as USDA lifted its U.S. production forecast, but also raised demand expectations for the commodity. <\/p>\n<p> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.usda.gov\/oce\/commodity\/wasde\/wasde0921.pdf\" class=\"icon none\">In its monthly World Agricultural Supply and Demand Estimates report<\/a>, the USDA raised its outlook on 2021\/2022 U.S. corn production by 246 million bushels to 15 billion bushels, citing \u201cincreases to harvested area and yield.\u201d<\/p>\n<div class=\"paywall\">\n       The government agency also lifted its forecast for total U.S. corn use for the 2021\/2022 marketing year by 150 million bushels to 14.8 billion bushels.<\/p>\n<p>\u201cCorn yields and production hit the highest end of expectations,\u201d said Sal Gilbertie, president and chief investment officer at Teucrium Trading. \u201cThe corn yield per acres was raised a bit, probably because the eastern and southern corn growing areas of the U.S. are expected to have really good yields\u201d \u2014 partially offsetting the very poor yields expected for corn in the Dakotas, he told MarketWatch.<\/p>\n<p>The most-active December corn contract<br \/>\n        CZ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209770630\/delayed\" class=\"positive\">+1.27%<\/bg-quote><\/p>\n<p>        C00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209710348\/delayed\" class=\"positive\">+1.27%<\/bg-quote><br \/>\n       traded lower in the im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te aftermath of the USDA report, then moved up by 2 cents, or 0.4%, to trade at $5.12 a bushel in Chicago. <\/p>\n<p>Corn prices climbed after four-consecutive sessions of losses, with Thursday\u2019s settlement at $5.10 the lowest for most-active contract since Jan. 22, according to FactSet data.<\/p>\n<p>\u201cWhile we expected USDA to raise the [corn] ending stock level , we are slightly surprised by the amount,\u201d said Darwei Kung, head of commodities and portfolio manager at DWS Group. The USDA lifted 2021\/2022 U.S. corn ending stocks to 1.408 million bushels from 1.242 million bushels.  <\/p>\n<p>\u201cWe expect the market to digest the full report over the weekend,\u201d Kung told MarketWatch.\u00a0\u201cThe key question for us now is how will demand evolve into 2022 as COVID-19 recovery process continues into the end of the year.\u201d<\/p>\n<p>Wheat futures, meanwhile, declined Friday, on track for their lowest finish since late July. The most-active December wheat contract<br \/>\n        WZ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/213232511\/delayed\" class=\"negative\">-0.25%<\/bg-quote><\/p>\n<p>        W00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210389638\/delayed\" class=\"negative\">-0.25%<\/bg-quote><br \/>\n       traded at $6.87 \u00be a bushel, down 4 \u00bd cents, or 0.7%.<\/p>\n<p>Total 2021\/2022 U.S. wheat supplies was forecast at 72.82 million metric tons, down from the 73.09 million metric tons August forecast, according to the USDA. U.S. wheat ending stocks for the marketing year was forecast at 16.73 million metric tons, down from the previous forecast of 17.05 million metric tons.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>The low level of wheat ending inventories was \u201cwidely expected\u201d, said Gilbertie, adding that wheat ending inventories would be the lowest seen since the 2013\/2014 crop year.<\/p>\n<p>November soybeans<br \/>\n        SX21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210350772\/delayed\" class=\"positive\">+1.50%<\/bg-quote><\/p>\n<p>        S00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210304009\/delayed\" class=\"positive\">+1.50%<\/bg-quote><span>,<\/span><br \/>\n       meanwhile, moved up by 11 cents, or 0.9%, to $12.81 \u00bd a bushel, poised for the highest finish in a week.<\/p>\n<p>The domestic U.S. soybean balance sheet \u201cremains low relative to historical levels, which is likely why soybeans are showing the most post-report strength,\u201d said Gilbertie.<\/p>\n<p>The USDA also lifted its 2021\/2022 U.S. soybean production forecast by 35 million bushels to 4.4 billion bushels, noting that lower harvested area was more than offset by a higher yield forecast.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/myra-p-saefong\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/MktwSaefong\",\"text\":\"@MktwSaefong\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:mpicache@marketwatch.com\",\"text\":\"mpicache@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\" aria-label=\"links to  author page\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong\"><\/span>Myra P. Saefong<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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