SINGAPORE – Chicago corn futures slid for a second session on Monday with prices coming under pressure on expectations of a weekly US report showing rapid harvest progress.
Soybeans fell, while wheat gained ground.
“US harvest is progressing well as the weather has been pretty good,” said Phin Ziebell, agribusiness economist at National
Australia Bank. “Chinese buying has supported prices but if you look at the past, China’s imports of US products have been normal, there is no unusually high demand.”
The most-active corn contract on the Chicago Board Of Trade (CBOT) was down 0.1 percent at $3.79-1/4 a bushel, and soybeans Sv1 fell 0.2 percent to $10.19-1/4 a bushel.
Wheat added 0.3 percent to $5.75 a bushel.