Corn and soybean futures prices fall... Will the international grain market find stability?

The futures prices for corn and soybeans fell together, leading the international grain market into a short-term adjustment. As of the 15th, the Chicago Mercantile Exchange's corn futures price stood at 439.75 cents per bushel, marking the lowest price this month. The corn price is falling due to global supply pressure and technical selling, despite the U.S. Department of Agriculture (USDA) confirming the sale of 250,000 tons of U.S. corn to an undisclosed destination, which did not elicit a significant market response. Additionally, with a large wheat harvest in Argentina raising the possibility of competition with corn in the feed grain market, further price declines are expected. Soybeans also recorded their lowest price this month, at 1071.75 cents per bushel as of the 15th on the Chicago Mercantile Exchange. The soybean price is falling amid concerns over weakening demand for U.S. soybeans, with new soybean crops expected to start being harvested in Brazil in a few weeks, and ...