Marketing-Communications
March corn for declined 0.5% to $4.255 a bu. at 4:58 a.m. on the Chicago Board of Trade after touching $4.2525, the lowest since Dec. 19.
Ethanol gained for a second day on speculation that increased demand for gasoline will spur consumption of the biofuel.
Much larger-than-expected ending stocks of both corn and soybeans will pressure prices lower.
Stocks of the country’s two largest crops—corn and soybeans—are still historically low, but that’s about to change.
It is interesting to show the market’s beliefs every now and then and consider what the market believes lies ahead, and compare those measures to recent history.
Corn fell in Chicago as expectations that U.S. harvests will rebound from last year’s drought outweighed data showing worsening crop conditions.
See what percentage of new and old-crop corn and soybeans market advisers have priced. Pro Farmer’s Brian Grete explains the situation.
Corn dropped for the second time in three days and soybeans declined as more rain is forecast for U.S. fields next week, boosting crop prospects.
Corn inventories in the U.S. will gain more than the government forecast last month as lower feed use and exports offset a smaller harvest of the rain-drenched crop.
Corn fell, heading for the biggest weekly slump since April, on signs of slowing global demand as farmers complete planting of a record crop in the U.S.