Australia

Markets - Commodities - Australia

Corn falls to near two-year low on USDA condition report SYDNEY: US corn fell to a near two-year low on Tuesday, slipping for a second session after the U.S. Department of Agriculture pegged the condition of the crop at above market expectations.Soybeans fell more than 0.5 percent to hit a three-and-a-half month low, while wheat was little changed.The most active corn futures on the Chicago Board Of Trade fell 0.2 percent to $3.33-1/2 a bushel by 0315 GMT, having earlier hit a session low of $3.33 a bushel - the lowest since October, 2014. Corn closed down 2.5 percent in the previous session.Analysts said corn was coming under pressure as any lingering weather related supply concerns ease."The proportion of U.S corn rated in good to excellent condition added to the bearish tone," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia, adding that updated weather models are also favourable."While corn is not yet totally in the clear, the ...
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