Corn, soybeans fall on dry weather forecast; wheat eases
DBA•Corn fell 0.1% and soybeans 0.2% as dry weather was expected to speed up the U.S. harvest, which was behind its five-year average pace. Wheat eased 0.2%, with supply disruptions linked to the Russia-Ukraine war limiting the decline.
1. Corn and soybeans decline
Chicago corn and soybean futures fell on Tuesday as forecasts for dry weather across the central United States were expected to help accelerate a harvest running behind its average pace. As of 0359 GMT, corn was down 0.1% to $4.96-3/4 a bushel and soybeans were down 0.2% to $12.78-1/2.
2. Harvest and wheat factors
Farmers had harvested 23% of the U.S. corn crop and 25% of soybeans, below the average pace over the past five years, the U.S. Department of Agriculture said Monday. Wheat fell 0.2% to $6.91 a bushel after Monday's gains, while disruption to supplies amid the Russia-Ukraine war and a major Saudi purchase on Monday supported prices.
