Pro Farmer Crop Tour data signals reduced U.S. corn yields for 2026, lifting futures to their highest level since 2023.
December U.S. corn futures closed at their highest level since July 2023, rising on projections of a smaller 2026 crop. The Pro Farmer Crop Tour found lower yield potential across key Corn Belt states, driving supply concerns.
Prior to the tour, analysts had anticipated a modest yield decline, but the findings suggest a steeper drop. The last comparable yield reduction occurred in 2022, when adverse weather cut production by 8%.
Traders reacted by pushing prices higher, with most-active contracts gaining 2.4% on the day.