Chicago Board of Trade (CBOT) grains closed mixed on Tuesday with corn futures dropping to a one-year low, pressured by ample supplies from the nearly completed harvest of the second-largest domestic corn crop on record.
Soybeans declined following corn got lower, as improving crop weather in South America added to bearish sentiment. But wheat futures firmed.
The most active corn contract for December delivery went down 4.75 cents, or 1.39 percent, to 3.375 dollars per bushel. December wheat delivery added 3.75 cents, or 0.88 percent, to 4.28 dollars per bushel. January soybeans dropped 6.5 cents, or 0.67 percent, to 9.6775 dollars per bushel.
National Agricultural Statistics Service reported on Monday that 93 percent of the U.S. soybean crop and 83 percent of the U.S. corn crop is now harvested. 95 percent of the U.S. winter wheat crop is planted with 54 percent of the crop rated Good or Excellent, down one percent from the previous week.
Better weather in South America, including beneficial rains this week in parts of Brazil, bolstered global production prospects.
However, mostly dry conditions were expected next week in Argentina's main agricultural area, which could delay soybean planting. Enditem
Soybeans declined following corn got lower, as improving crop weather in South America added to bearish sentiment. But wheat futures firmed.
The most active corn contract for December delivery went down 4.75 cents, or 1.39 percent, to 3.375 dollars per bushel. December wheat delivery added 3.75 cents, or 0.88 percent, to 4.28 dollars per bushel. January soybeans dropped 6.5 cents, or 0.67 percent, to 9.6775 dollars per bushel.
National Agricultural Statistics Service reported on Monday that 93 percent of the U.S. soybean crop and 83 percent of the U.S. corn crop is now harvested. 95 percent of the U.S. winter wheat crop is planted with 54 percent of the crop rated Good or Excellent, down one percent from the previous week.
Better weather in South America, including beneficial rains this week in parts of Brazil, bolstered global production prospects.
However, mostly dry conditions were expected next week in Argentina's main agricultural area, which could delay soybean planting. Enditem
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