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SINGAPORE- Chicago corn futures bounced back on Wednesday, recouping some of previous session’s deep losses, as a decline in the US crop condition underpinned prices.
Soybeans and wheat also firmed.
“The market has pretty much convinced itself that the USDA (US Department of Agriculture) will publish larger US corn crop estimates…,” Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia said.
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“The USDA’s crop conditions survey though showed a slight decline in US crop conditions last week. The survey was published after the close of trading so will be a plus in early trading today.” — Reuters
