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Corn at 3-yr low, wheat stays weak

September 20, 2023 00:00:00

PARIS/SINGAPORE, Sept 19 (Reuters): Chicago corn slipped on Tuesday to remain at its lowest levels since December 2020 as an advancing US harvest kept attention on ample international supply following a record Brazilian crop.

Wheat futures extended losses from Monday as competitive Russian prices and moves to load grain from war-torn Ukraine underscored ongoing competition from Black Sea supplies.

Soybeans slipped to a one-month low, pressured by the early stages of the US harvest as well as monthly crushing data that disappointed traders.

The most-active corn contract on the Chicago Board of Trade (CBOT) was down 0.7 per cent at $4.68-1/4 a bushel by 1135 GMT, after touching a near three-year low for a second straight session.

CBOT wheat was down 1.2 per cent to $5.84-1/4 a bushel after an earlier one-week low. Soybeans gave up 0.4 per cent to $13.11-1/4 a bushel after reaching their lowest since Aug. 16.

"Corn and soybeans are slipping back as harvest pressure begins in the United States," consultancy Agritel said.

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