Chicago Board of Trade (CBOT) corn futures fell on Friday for a fourth straight session, pressured by technical selling, including inter-market spreading compared with soybeans, traders said. Corn futures lost to soybeans on inter-market spreads, reversing course after traders bought corn and sold soybeans a day earlier. CBOT December corn settled down 3-3/4 cents at $3.67 per bushel.
For the week, the December contract fell 6-3/4 cents or 1.8 percent, halting a two-week climb. Rains slowed fieldwork in parts of Iowa, Minnesota and Missouri but weekend forecasts were mostly dry, a factor that should boost harvest progress. Farmers in Ukraine have harvested 17.3 million tonnes of corn from 2.6 million hectares, 56 percent of the sown area, Ukraine's Agriculture Ministry said.
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