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Corn Remains Under Pressure

April 24, 2013 at 4:33 by Vladimir Vyun

Corn prices continued to be subdued as forecasters promised good weather. US farmers may speed up planting as weather is expected to be warm and dry. Previously, rains helped to boost growth of crops that were already planted. Growers increased acreage of corn planting after last year’s drought drove prices to a record.

Prices were already under pressure from predictions of lower demand. Fundamentals did not improve since then, leading to worsening prospects for the grain.

July futures for delivery of corn slid $0.0075 (0.12 percent) to $6.1325 per bushel as of 4:31 GMT on CBoT today.

If you have any questions and comments on the commodities today, use the form below to reply.

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