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Export news supports soy complex on Monday

Corn slipped to fresh 2015 lows Monday. Weather forecasts point to a sustained Midwest dry spell into early May, which could allow spring corn plantings to surge, thereby potentially improving autumn yield prospects. Concerns about the bird flu outbreak and its impact upon feed grain demand also encouraged early-week selling, with the net effect being a corn futures drop to fresh 2015 lows. May corn futures slid 3.75 cents to $3.6075/bushel in late Monday action, while December lost 5.0 to $3.8325.

Markets

Corn slips to fresh 2015 lows Monday at midday

Corn slipped to fresh 2015 lows Monday morning. Weather forecasts point to a sustained Midwest dry spell into early May, which could allow spring corn plantings to vault ahead, thereby potentially improving autumn yield prospects. Concerns about the bird flu outbreak and its impact upon feed grain demand also encouraged early-week selling, with the net effect being a corn futures drop to fresh 2015 lows. May corn futures slid 2.5 cents to $3.62/bushel late Monday morning, while December lost 4.0 to $3.8425.

Markets

Crop markets tumble Friday at close

Corn continued its recent slide Friday. Although Thursday’s weekly USDA Export Sales report looked bullish for corn, CBOT prices continued their recent decline into the weekend. Talk of rapid spring planting and lower demand resulting from the ongoing ‘bird flu’ outbreak clearly depressed prices. Early Friday news of a big corn sale and recent U.S. dollar losses did little to boost the market. May corn futures sank 6.25 cents to $3.645/bushel at Friday’s close, while December lost 6.25 to $3.8825.

Markets

Corn market still sliding Friday at midday

Corn continued sliding Friday morning. Although Thursday’s weekly USDA Export Sales report looked bullish for corn, CBOT prices continued their recent decline through yesterday’s session and into Friday. Talk of rapid spring planting and lower demand resulting from the ongoing ‘bird flu’ outbreak are reportedly weighing on prices. Early news of a big corn sale did little to boost the market. May corn futures sank 5.25 cents to $3.655/bushel late Friday morning, while December lost 5.5 to $3.89.

Markets

Wheat markets turn mixed in late Thursday trading

Corn diverged from the general ag markets gains Thursday. The weekly USDA Export Sales report was almost unanimously supportive of the crop markets today, with corn result seeming quite strong. A concurrent decline in the value of the U.S. dollar probably encouraged commodity buying as well. However, talk of favorable planting conditions and profit-taking depressed CBOT quotes by the close. May corn futures settled down 1.75 cents to $3.7075/bushel Thursday, while December lost 3.0 to $3.945.

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