Corn Market Recap - 10/7/2016

October 7, 2016 3:39PM CDT

December Corn finished down 3/4 at 339 3/4, 5 off the high and 1/4 up from the low. March Corn closed down 3/4 at 349 1/2. This was 1/4 up from the low and 4 3/4 off the high.

December corn closed fractionally lower today but just off the lows of the day. The market closed at 339 3/4 for the week, well off the weekly high of 349 1/4 made on Wednesday. Average estimates for next week's government report are out and the corn yield estimate is 173.5 bushels per acre. This is down from The USDA September yield of 174.4. Corn closed up 3 cents on the week and after Monday's strong surge it is somewhat disappointing action. There is clear weather forecasted for the next two weeks which should see active harvest.

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