U.S. corn futures fall for 3rd straight session on crop outlook
Investing.com
Published Aug 27, 2014 06:13AM ET
U.S. corn extends losses on upbeat crop outlook
Investing.com - U.S. corn futures fell for the third consecutive session on Wednesday, amid expectations of record yields across much of the U.S. grain belt.
On the Chicago Mercantile Exchange, U.S. corn for December delivery dipped 0.34%, or 1.2 cents, to trade at $3.6360 a bushel during U.S. morning hours.
A day earlier, corn prices fell 0.68%, or 2.4 cents, to settle at $3.6500.
Prices fell to a four-year low of $3.4800 a bushel on August 12 after the U.S. Department of Agriculture estimated the corn harvest at 14.03 billion bushels, which would break last year's record of 13.93 billion.
The agency also said it expected average corn yields of 167.4 bushels per acre, above an all-time high of 164.7 in 2009.
Meanwhile, U.S. soybeans for November delivery inched up 0.34%, or 3.52 cents, to trade at $10.3213 a bushel.
The November soy contract fell to $10.1960 a bushel on Tuesday, a level not seen since September 2010, as ongoing expectations for a record U.S. harvest weighed.
According to the USDA, this fall's U.S. harvest will reach an all-time high of 3.82 billion bushels.
Elsewhere on the CBOT, U.S. wheat for December delivery inched down 0.04%, or 0.23 cents, to trade at $5.5638 a bushel.
Prices of the grain tacked on 0.36%, or 2.0 cents, on Tuesday to end at $5.5640.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.