Commodity Online MUMBAI: Corn futures closed lower on Thursday in quiet trading. July closed near the lower end of the contract’s tight daily range while other contracts sustained slightly larger losses and closed at their intraday lows.
Traders and analysts cited crude oil’s drop as the reason for corn’s slip, and said export sales were bullish but only helped to limit losses. Favorable crop weather also continues to weigh on the market. T-storm Weather said temperatures will be seasonable before heat could set in next week.
Traders and analysts said some positioning occurred before the holiday weekend, with traders long corn liquidating their positions.
Trade commodities or equities from across the globe. Join NowThe CBOT will be closed Friday in observance of the holiday. July closed down 6 cents at $3.45 3/4 a bushel. December corn closed down 11 3/4 cents at $3.57 1/2, near its $3.57 low for the day.
Courtesy: CBE Group
