CHICAGO: US corn and soyabean futures declined on Monday, pressured by beneficial weekend rains in the Corn Belt and spillover weakness from outside commodity markets including crude oil and gold, analysts said.
Wheat followed the weaker trend, with a firmer dollar adding to bearish sentiment.
Chicago Board of Trade December corn settled down 2-3/4 cents at $5.53-3/4 per bushel and November soybeans down 7 cents at $13.29-3/4 a bushel. CBOT September wheat fell 7-3/4 cents to settle at $7.11-1/4 a bushel.
“Rain over the weekend in the central US favored the central Plains and the northern and west-central Midwest. Recent rainfall has led to improvements in soil moisture ... favoring corn and soyabeans,” space technology company Maxar said in a daily weather note.
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