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Hedge Funds Face Off With Analysts in Corn Ahead of Key Report

  • Survey predicts USDA will cut its outlook for domestic yields
  • Money managers are positioned for another bearish surprise
Corn plants grow at a farm near Buda, Illinois

Corn plants grow at a farm near Buda, Illinois

Photographer: Daniel Acker/Bloomberg
Updated on

There’s a rumble brewing in the corn market as hedge funds and analysts take opposite views ahead of a key crop report.

A Bloomberg survey showed that traders and analysts expect the U.S. Department of Agriculture will be aggressive in cutting its outlook for domestic corn yields, with an average prediction of 166.5 bushels an acre. That would be a whopping 3 bushels below the USDA’s August estimate and would likely send the market higher.