CBOT corn higher after USDA crop report
CHICAGO, Sept 12 (Reuters) - Chicago Board of Trade corn futures rose on Friday after the U.S. Department of Agriculture delivered a bearish, but unsurprising, monthly crop report.
U.S. farmers will harvest the most acres of corn since 1933 and produce more of the grain than previously expected, even though crop yields will miss earlier forecasts, the USDA said around midday on Friday.
The agency further increased its estimate for how many acres will be harvested in a monthly supply and demand report, after surprising grain traders with a large acreage increase in August.
High levels of fungal disease are lurking in corn fields across the U.S. Midwest, threatening to reduce yields of a record-large crop and cause headaches for farmers during the autumn harvest, growers and crop experts said.
The USDA raised its 2025 U.S. corn production estimate to a record 16.814 billion bushels. It projected a record average yield of 186.7 bushels per acre, down from 188.8 bushels per acre in August. Both figures were above analysts' expectations.
CBOT December corn futures CZ25 settled 10-1/4 cents higher at $4.30 per bushel.
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