MUMBAI (Commodity Online): Corn futures ended lower on Friday as the market succumbed to a bearish environment for commodities generally. Corn was led lower by soybeans, which fell sharply, traders said. Crude oil also weighed.
But bears say that given the market’s poor supply fundamentals, they are surprised that corn has not fallen harder. Dave Marshall, an independent broker/ advisor from Nashville, Ill., said “the inability to go up or down is the hallmark of the corn market the last couple weeks.”
Trading platform that even a 5 year old can trade. Join nowWhile some are concerned about wet weather delaying the harvest, others are focused on the size of the crop, which many expect to top 13 billion bushels. December corn ended down 7 cents to $3.33 1/2 per bushel and March corn ended down 6 3/4 cents to $3.46 1/2. The December contract lost 1/2 cent on the week.
Courtesy: CBE Group
