Chicago corn futures slide, wheat and soybeans steady

PARIS/JAKARTA: Chicago corn futures edged lower on Tuesday to hold near a six-week low after a government report underscored a favourable start to the US growing season.

Soybeans inched higher to come off a one-month low but like corn remained curbed by US planting progress as well as pressure from a slide in crude oil prices.

Wheat steadied after a two-week low as the market awaited the outcome of tenders on Tuesday by major importers Egypt and Algeria, and continued to monitor yield-threatening weather in leading exporter Russia.

The most-active corn contract on the Chicago Board of Trade (CBOT) was down 0.3% at $4.42 a bushel by 0913 GMT, hovering near Monday’s six-week low of $4.39.