Corn futures at the Chicago Board of Trade were lower early on Wednesday on a technical setback after recent weather-related rallies, traders said. The failure of soybeans to hold strong gains early also contributed some spillover speculative selling in the corn futures pit, they said.
At 10:27 am CDT (1527 GMT), CBOT corn was down 1 to 4-1/4 cents per bushel. September was down 3-3/4 at $2.28-3/4 per bushel. December was down 4-1/4 at $2.41-1/4.
Traders said weather was still the driving force in corn and soybean futures and most attention now was on soybeans because of the sensitivity of that crop to potential harsh weather in August.
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