Chicago Board of Trade corn futures fell to session lows in late morning trading on Thursday due to forecasts for crop-boosting rains in the US Midwest, traders said. The drop in corn weighed on wheat futures, which turned lower after trading higher for much of the day. End-of-month positioning added pressure to both commodities.
At 11:25 am CDT (1625 GMT), CBOT December corn was down 6 cents at $6.85-1/2 a bushel. CBOT September soft red winter wheat dropped 3-1/4 cents to $7.01-1/2 a bushel.