IndustryCBOT corn falls due to expected bumper harvest in South America
On Wednesday, corn futures on the Chicago Board of Trade (CBOT) closed down, with the benchmark period closing about 1.4% lower due to a sharp drop in soybean prices and expectations of a bumper harvest for South American corn.
As of the close, corn futures fell by 5.25 cents to 6.25 cents, with the March futures falling by approximately 6.25 cents to close at 437.25 cents per bushel; The May term fell by approximately 6.25 cents, closing at 443.75 cents per bushel; The July period fell by about 6 cents, closing at 447.25 cents per bushel.
The most active trading range for March futures is between 437 cents and 446.50 cents.
On Wednesday, the estimated trading volume for the benchmark period was 159268 lots, compared to 146826 lots on the previous trading day. The short position is 778582 lots, compared to 789079 lots on the previous trading day.
