Chicago Board of Trade (CBOT) grains closed mixed Tuesday with corn futures falling to a record low on technical selling and ample global supplies.
Soybeans also fell as slightly wetter forecasts for crop areas of Argentina eased near-term concerns about dryness. But wheat closed higher on bargain-buying after most months sank to contract lows.
The most active corn contract for March delivery went down two cents, or 0.57 percent, to 3.4975 dollars per bushel. March wheat delivery rose one cent, or 0.23 percent, to 4.2925 dollars per bushel. January soybeans dropped three cents, or 0.3 percent to 9.93 dollars per bushel.
As for other major exporters, the Argentine weather forecast is similar to the midday forecast Monday in that 60-65 percent of the Argentine crop areas will enjoy rain from two slow moving storm systems in the next five days.
Regular rains look to drop across North and Central Brazil with dryness continuing to worsen across South Brazil. Limited rains are foreseen for southern states for the next two weeks.
Soybeans also fell as slightly wetter forecasts for crop areas of Argentina eased near-term concerns about dryness. But wheat closed higher on bargain-buying after most months sank to contract lows.
The most active corn contract for March delivery went down two cents, or 0.57 percent, to 3.4975 dollars per bushel. March wheat delivery rose one cent, or 0.23 percent, to 4.2925 dollars per bushel. January soybeans dropped three cents, or 0.3 percent to 9.93 dollars per bushel.
As for other major exporters, the Argentine weather forecast is similar to the midday forecast Monday in that 60-65 percent of the Argentine crop areas will enjoy rain from two slow moving storm systems in the next five days.
Regular rains look to drop across North and Central Brazil with dryness continuing to worsen across South Brazil. Limited rains are foreseen for southern states for the next two weeks.
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