Corn Recovering Slightly on Monday AM Trade

Group 1 - Corn price action is showing fractional gains on Monday morning, with futures closing down 10 to 11.5 cents on Friday, but December futures gained 3 cents over the week [1] - The USDA's updated Crop Production report indicates a corn yield of 186 bushels per acre (bpa), a slight decrease of 0.7 bpa from September, resulting in a total output of 16.752 billion bushels (bbu) [2] - The 2024/25 carryout number increased by 207 million bushels (mbu) to 1.532 bbu, contributing to a total supply for 2025/26 of 18.309 bbu, which is 144 mbu higher than previously estimated [2] Group 2 - World corn ending stocks are estimated at 281.34 million metric tons (MMT), reflecting a reduction of 0.06 MMT from the September report, primarily due to a decrease in China's estimates [3] - The USDA reported a backlog of flash sale announcements from October 1 to November 12, totaling 4.915 MMT, with 4.367 MMT for the current marketing year [3] - AgRural estimates that the Brazilian first corn crop is 85% planted, which is below the 87% from the same period last year [4]