U.S. corn, wheat and soybeans futures on the slide

18 | 10 | 2010

AGROINFO - U.S. corn, wheat and soybeans futures fell on Monday as the market took a breather following a recent rally on the back of trimmed estimates of crop production in the United States, the leading exporter of all three commodities.

U.S. corn, wheat and soybeans futures fell on Monday as the market took a breather following a recent rally on the back of trimmed estimates of crop production in the United States, the leading exporter of all three commodities.

A steady dollar kept a lid on prices which last week hit multi-month highs, partly because of the greenback weakening in expectations that the Federal Reserve will undertake further quantitative easing measures to boost the U.S. economy.

Chicago Board of Trade corn for December delivery fell 0.84 percent to $5.58-¼ per bushel, adding to a 0.76 percent fall on Friday as investors took profits.

Soybeans for November delivery eased 0.40 percent to $11.807-¼ per bushel, adding to losses on Friday although the contract ended last week more than 4 percent higher on strong demand from U.S. domestic processors and exporters.

Wheat for December delivery dropped 0.57 percent to $7.00-½ after being bid up last week on concerns that dry weather in the U.S. Midwest may hinder winter wheat plantings.

AGROINFO

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