U.S. new-crop corn futures fell for a seventh consecutive session on Wednesday as forecasts for near perfect crop weather fuel expectations for bumper production.
FUNDAMENTALS
* Chicago Board Of Trade December corn, the most actively traded contract, fell 0.2 percent to $4.03-1/2 a bushel, to trade around the contract low. Corn slid 0.5 percent in the previous session.
* September wheatrose 0.2 percent to $5.57-1/4 a bushel, having closed up 0.1 percent on Tuesday, but is also near contract lows.
* November soybeanslittle changed at $11.16-1/2 a bushel, having closed down 0.8 percent on Tuesday.
* The USDA on Monday reported that the corn crop was in the best shape for early July in 15 years and that soy crop conditions were the best in 20 years.
* Market readying for Friday's monthly U.S. Department of Agriculture supply and demand report, which was expected to show higher old-crop soybean ending stocks and record-large corn and soybean harvests.
* Falling wheat prices have stirred some demand from importers, but cheaper Black Sea production has pushed U.S. wheat out of the frame in a string of tenders. Egypt's GASC, which has bought mostly Black Sea wheat in recent tenders, issued a fresh tender on Tuesday for late-August shipment.
Source: Reuters
FUNDAMENTALS
* Chicago Board Of Trade December corn
* September wheat
* November soybeans
* The USDA on Monday reported that the corn crop was in the best shape for early July in 15 years and that soy crop conditions were the best in 20 years.
* Market readying for Friday's monthly U.S. Department of Agriculture supply and demand report, which was expected to show higher old-crop soybean ending stocks and record-large corn and soybean harvests.
* Falling wheat prices have stirred some demand from importers, but cheaper Black Sea production has pushed U.S. wheat out of the frame in a string of tenders. Egypt's GASC, which has bought mostly Black Sea wheat in recent tenders, issued a fresh tender on Tuesday for late-August shipment.
