Chicago Board of Trade corn futures fell more than 3 percent on Monday, with actively traded months hitting new contract lows on fund selling and concerns about rising trade tensions with key global commodities importers, traders said.
CBOT September corn ended down 12-1/2 cents at $3.47 a bushel, while new-crop December corn ended down 12-1/4 cents at $3.59. July futures, currently in delivery, fell to the lowest level for a front-month contract since December 14. The July 2018 through May 2019 contracts posted new contract lows, along with May and July 2020 futures.
Active fund selling on the first trading day of the new month and new quarter pressured futures. Worries about elevated trade tensions with major commodities importers such as Mexico and China created headwinds for grain markets.
Comments
Comments are closed for this article.