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Corn futures fall sharply on forecasts for rain

Corn futures fall sharply on forecasts for rain in northern US

Corn futures fall sharply on forecasts for rain

Corn prices are falling sharply after forecasts for rain in crop-growing regions in the northern U.S.

Metals prices closed mixed Tuesday, while energy prices were mostly higher.

Corn for December delivery fell 16.75 cents, or 3.6 percent, to $4.4725 a bushel, the lowest price since September 2010.

Todd Hultman, a grain analyst at DTN/The Progressive Farmer, says favorable growing conditions for corn have been sending prices for the grain lower, even after a blip higher Monday on lower crop yield estimates from the U.S. Department of Agriculture.

September wheat fell 6.75 cents to $6.2825 a bushel. November soybeans edged up 2.5 cents to $12.2775 a bushel.

Oil for September delivery rose 72 cents to $106.83 a barrel in New York.

Gold for December delivery fell $13.70 to $1,320.50 an ounce.


Updated : 2021-05-09 18:48 GMT+08:00