Corn, soy down on active harvest, positioning ahead of USDA data
DBA•U.S. corn and soybean futures fell Thursday as Midwest harvesting picked up and traders squared positions ahead of Friday’s USDA report. December corn settled down 1¾ cents at $5.00¼ per bushel, while November soybeans fell 10 cents to $12.87½.
1. Harvest and report ahead
U.S. corn and soybean futures eased Thursday as clear Midwest weather accelerated harvesting and traders positioned ahead of Friday’s monthly USDA supply and demand report. The USDA is expected to lower its average corn yield outlook but raise its estimate of ending U.S. stocks, analysts polled by Reuters said.
2. Closing prices
CBOT December corn settled down 1¾ cents at $5.00¼ per bushel, and November soybeans fell 10 cents to $12.87½. December wheat lost 3½ cents to $6.83¼, pressured by a stronger U.S. dollar, while supply concerns tied to restricted Black Sea shipments limited losses.
