USDA Cuts US Corn Estimate; Chicago Grains Rise, Argentina Output Steady

The USDA lowered its US corn production estimate, driving corn futures higher in Chicago and supporting gains across the grain complex. For Argentina, the USDA kept soybean, corn, and wheat production forecasts at 50, 55, and 21.5 million tons respectively, indicating stable supply expectations from a key exporter. The revision signals tighter US corn supply, which could support global grain prices and affect import-dependent regions.