Corn futures rebounded to $4.50 per bushel on November 9 after touching a three-month low of $4.40, following a USDA WASDE report that reduced the 2026/27 U.S. corn supply outlook. The report lowered production to about 15.89 billion bushels, or 15.9 billion when rounded, from 16.03 billion previously, while projected ending stocks fell to 1.758 billion bushels from 1.849 billion. The yield forecast declined 1.6 bushels to 179.6 bushels per acre, with harvested area unchanged at 88.5 million acres. Harvesting was 81% complete as of November 8, five percentage points below the five-year average, as wet conditions slowed fieldwork in states including Iowa. Soybean production rose 12 million bushels to 4.6 billion and exports increased 25 million bushels, while wheat ending stocks rose 3 million bushels to 743 million. Corn prices had also faced pressure from lower fuel costs and renewed optimism around diplomacy in Iran, which reduced ethanol demand.