This is what we saw in the October WASDE report: U.S. corn production came in-line with expectations at 15.06bil bu vs exp 15.06bil bu and vs prev estimate of 15.09bilbu; Corn yield came in at 173.4 and vs exp 173.5bu/acre vs prev 174.4bu/acre; U.S. corn ending stocks came in at 2.32bil bu and vs exp 2.359bil bu and vs prev 2.384bil bu. Traders saw the report as bearish as the current estimates, if realised, would produce a record crop. Below is a 30min chart portraying the DEC16CORN (ZCZ2016) contract traded in Chicago. Corn prices dropped sharply through support at $3.46 and $3.41 after figures were released. Nearby support is seen at $3.33 and $3.23 with previous support, now resistance, at $3.41 and $3.46