SINGAPORE/HAMBURG, Aug 26 (Reuters): Chicago corn fell to its lowest in around four years on Monday and soybeans also dropped after a closely watched crop tour of key growing areas forecast bumper US harvests.
Wheat fell amid ample world supplies, especially from the Black Sea region.
"The US crop tour has estimated some big yields," said a Singapore-based grains trader. "It is the continuation of the same theme for beans and corn in Chicago futures today. Everything is pointing to a big production out of the US."
Chicago Board of Trade most-active corn fell 1.2 per cent to $3.86-1/4 a bushel at 0958 GMT, its lowest since October, 2020.
Soybeans fell 0.8 per cent to $9.64-3/4 a bushel, wheat fell 0.5 per cent to $5.25-1/4 a bushel.
The US soybean harvest will be even bigger than the government's record forecast, advisory service Pro Farmer said on Friday. The estimate came after a crop tour studying US harvest conditions, though it forecast a smaller corn crop than the US Department of Agriculture.
Soybeans edges down, corn hits 4-year low
FE Team | Published: August 27, 2024 00:35:00
Soybeans edges down, corn hits 4-year low
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