Investing.com - U.S. grain futures were mixed on Monday, with corn prices trading near the lowest level since August 2010 amid expectations this year’s U.S. harvest will be the largest on record.
On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD4.3338 a bushel, down 0.05%. Corn prices fell to a session low of USD4.3288 a bushel earlier, the weakest level since August 30, 2010.
The December corn contract settled 1.14% lower on Friday to end at USD4.3320 a bushel.
Futures have been on a downward trend in recent weeks as investors monitored improving crop prospects in the U.S. Midwest.
The U.S. corn crop was expected to total 13.84 billion bushels this season, 28% larger than last year’s harvest and the largest crop on record.
Elsewhere on the CBOT, soybeans futures for November delivery traded at USD12.7463 a bushel, up 0.6%.
Prices of the oilseed reversed losses after falling by as much as 0.3% to a session low of USD12.6188 a bushel, the weakest level since August 14.
The November soy contract ended down 1.65% at USD12.6660 a bushel on Friday.
Meanwhile, wheat for December delivery traded at USD6.9313 a bushel, up 0.1%. Wheat traded in a range between USD6.9163 a bushel, the daily low and a session high of USD6.9613 a bushel.
The December contract settled 0.98% higher at USD6.9220 a bushel on Friday.
Wheat futures have been well-supported in recent sessions amid indications of robust demand for U.S. supplies and as concerns over crop conditions in the Black-Sea region mounted.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
The U.S. Department of Agriculture’s weekly crop progress report scheduled for later in the day will be postponed for the second consecutive week due to the U.S. government shutdown.
The agency delayed the release of its closely-watched monthly supply and demand report on October 11, the first time in 40 years the monthly update was not issued.
On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD4.3338 a bushel, down 0.05%. Corn prices fell to a session low of USD4.3288 a bushel earlier, the weakest level since August 30, 2010.
The December corn contract settled 1.14% lower on Friday to end at USD4.3320 a bushel.
Futures have been on a downward trend in recent weeks as investors monitored improving crop prospects in the U.S. Midwest.
The U.S. corn crop was expected to total 13.84 billion bushels this season, 28% larger than last year’s harvest and the largest crop on record.
Elsewhere on the CBOT, soybeans futures for November delivery traded at USD12.7463 a bushel, up 0.6%.
Prices of the oilseed reversed losses after falling by as much as 0.3% to a session low of USD12.6188 a bushel, the weakest level since August 14.
The November soy contract ended down 1.65% at USD12.6660 a bushel on Friday.
Meanwhile, wheat for December delivery traded at USD6.9313 a bushel, up 0.1%. Wheat traded in a range between USD6.9163 a bushel, the daily low and a session high of USD6.9613 a bushel.
The December contract settled 0.98% higher at USD6.9220 a bushel on Friday.
Wheat futures have been well-supported in recent sessions amid indications of robust demand for U.S. supplies and as concerns over crop conditions in the Black-Sea region mounted.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
The U.S. Department of Agriculture’s weekly crop progress report scheduled for later in the day will be postponed for the second consecutive week due to the U.S. government shutdown.
The agency delayed the release of its closely-watched monthly supply and demand report on October 11, the first time in 40 years the monthly update was not issued.