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CHICAGO – US wheat futures fell, touching a one-month low on improving prospects for the crop in the US Plains, traders said.
Corn futures fell on a round of profit-taking after rising in three of the previous four sessions. Soybeans also closed lower, with concerns about demand outweighing a bargain-buying attempt after prices for the most-active contract sagged to a three-week low.
Traders noted slowing activity from soy crushers as well as export buyers.
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“High prolonged prices (are) finally starting to trim overall demand as we head into the summer months,” ArlanSuderman, chief commodities economist at StoneX, said in a note to clients. – Reuters
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