U.S. corn and soybean futures fell to their lowest levels in nearly four years on Thursday as forecasts for cool, rainy weather in the Corn Belt boosted yield expectations, analysts said.
Chicago December corn futures settled below $4 and hit a contract low on Wednesday as favorable U.S. crop prospects weighed and farmers began selling their hefty supplies of old crop corn, traders said.
Chicago soybean prices plunged on Monday to the lowest since October 2020, as forecasts for rain in the U.S. crop belt alleviated concerns over the potential impact on crop yields from hot and dry weather.
Chicago Board of Trade soybean and corn futures plunged on Friday but were set for weekly gains, as weather forecasts indicated positive news for crops in the central United States.
Chicago | Reuters – Chicago soybeans and corn strengthened on Thursday as worries about the August weather forecast in the central U.S. took centre stage. Meanwhile, slow demand and cheap Russian exports pressured wheat as a crop tour in North Dakota forecast high spring yields in the United States, according to analysts. Hot, dry weather […] Read more
Chicago wheat and corn gained strength on Wednesday as the market monitored a hot, dry spell forecast in parts of North America, but gains were capped by sizeable global supplies.
The price rally in Chicago Board of Trade (CBOT) corn futures extended into a second day on Tuesday, with the most-active contract Cv1 reaching a two-week high, as traders began to focus on weather-related impacts on the U.S. crop and short-covering, market analysts said.
Chicago Board of Trade soybean futures jumped on Monday on a flurry of short covering, with prices rebounding from last week's 2020 lows as traders re-evaluated the U.S. political landscape after U.S. President Joe Biden abandoned his reelection bid on Sunday.
Chicago Board of Trade wheat futures climbed on Friday on short-covering and concerns over weather in wheat-growing areas of the U.S. Plains and globally.
Chicago Board of Trade (CBOT) soybean futures rose on Thursday on bargain buying and signs of renewed export demand after the most-active contract Sv1 fell to a nearly four-year low in early trading, analysts said.