Food Industry
Industry: Email Alert RSS FeedCorn Watch: CBOT Corn Called 7 to 10 U.S. Cents Lower.
Resource News International, October, 2004
Winnipeg, MB, Oct 12, 2004 (Resource News International via COMTEX)
Corn futures at the Chicago Board of Trade (CBOT) are called to start Tuesday's session 7 to 10 U.S. cents lower. A record production forecast from the USDA Tuesday morning was seen pummeling prices early on.
The CBOT December corn future finished Monday's trading session down 1/4 of a cent at U.S.$2.04 1/4. Activity was thin Monday ahead of Tuesday morning's USDA production report. Traders were bracing themselves for a massive outlook for the U.S. corn crop. One analyst said a bearish report could be the final catalyst to push December corn below the psychologically important level of U.S.$2.00 per bushel.
The USDA reported Tuesday that the U.S. corn crop is expected to...
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