Corn Drops to 1-Week Low on Demand Concern for U.S. Grain
This article is for subscribers only.
Corn dropped to the lowest in more than a week on speculation that planting will accelerate in the U.S., the world’s biggest grower and exporter. Wheat and soybeans also declined.
Warmer, drier weather through May 6 will help firm muddy soils and allow for increased corn sowing across the Midwest, especially from Nebraska to Missouri and in parts of the southern Mississippi River Valley, Commodity Weather Group LLC said in a report. As of April 14, planting was 2 percent completed, the slowest pace since 1993, U.S. Department of Agriculture data show.