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Corn ends higher, supported by weather forecasts; gold falls

Corn ends higher, supported by weather forecasts; gold falls

Chicago Board of Trade corn futures settled higher Wednesday, supported by some forecasts of wetter weather late next week and into the following week.
May corn settled up 4.50 cents at $3.72 per bushel, July settled 4.50 cents higher at $3.82, and December gained 1.75 cents to $3.8025.
Additional rain could make corn planting slower than earlier expected, adding to concerns that corn might be seeded after its optimum planting time, said Vic Lespinasse of AG Edwards & Sons.
July soybeans settled 7.75 cents lower at $7.4850, and November soybeans finished 6.50 cents lower at $7.77.
July wheat ended 7.50 cents lower at $4.9350 a bushel.
June gold fell $2.20 to $675.10 a troy ounce on the New York Mercantile Exchange. July silver fell 3.5 cents to $13.335.
Gold has been correcting lower since the June futures stalled just shy of the $700-an-ounce level on April 20 and 23.
Meanwhile, there has been less demand for metals as an alternative asset due to the strength in global stock markets, said Bill O'Neill, one of the principals with LOGIC Advisors.
"And as the market has come off a little bit, we've definitely seen some technically related liquidation from the funds," he said.
July platinum fell $1.80 to $1,299.10 an ounce, while June palladium managed an 80-cent gain to $374.95 an ounce.
The most-active July copper contract rose 1 cent to settle at $3.6445 per pound.
The June crude oil contract settled down 725 cents at $63.68 a barrel after trading as high as $65.50 a barrel.
The June heating oil contract settled down 3.03 cents at $1.8526 a gallon. June gasoline settled down 1.21 cents at $2.2326 a gallon.
June natural gas settled up 1.2 cents at $7.730 per million British thermal units.
On the New York Board of Trade, Arabica coffee futures May closed down 0.15 cent at $1.0170 a pound, with July off 0.15 cent at $1.0470.
Most-active July cocoa settled up $21 at $1,855 a metric ton.
Futures on raw sugar in foreign ports for July settled unchanged at 9.14 cents a pound, with October down 0.01 cent at 9.43 cents.


Updated : 2021-01-25 06:56 GMT+08:00