Markets break sharply lower as funds continue to liquidate positions absent new supportive input. US ProFarmer Tour places average corn yield at 177.3b/a, relative to 178.4b/a from USDA. Historically the tour has been 2.4b/a lower than the USDA’s September estimate, implying final yields may approach 180b/a. Fridays COT report showed US funds reduced positions less than expected, despite the market sell-off. Though numbers only reflect trade to Tuesday. CH+KS Wheat (+125k) Co

Markets higher early in the week before consolidating, as USDA release bearish corn/soybean data, with declines in wheat production less bullish than expected. USDA Headlines: US corn yield estimated at a record 178.4b/a, above trade expectations. (176.6b/a last season). Production consequently moved 9.05mmt higher to 370.51mmt. World wheat production lowered 6.6mmt to 729.63mmt, despite the trade anticipating a sharper decline. Australian/Canadian estimates unchanged, despit

Market sentiment remains bullish as World wheat prices make new contract highs once more, before retracing somewhat. Informa estimate US corn yield at 175.5b/a. FcStone estimate 178b/a. Bearing in mind current issues across the EU, SA, FSU - a record US corn yield would appear to be needed to avoid a tight Global corn balance sheet. Ukraine Ag Ministry announce via social media that grain exports may be curtailed, sending EU markets to surge €10 higher. This position was retr