News

US corn and soybean futures hit multi-year lows

Maize (Corn)
Soybean
United States
Market & Price Trends
Published Feb 27, 2024

Tridge summary

Corn futures on the Chicago Mercantile Exchange have dropped below $4 a bushel for the first time since November 2020, due to large inventories both in the U.S. and globally. This significant decrease in corn prices could potentially affect the U.S. agricultural economy as producers are finalizing their spring planting plans. Additionally, soybean futures have also seen a decline as U.S. exports reached their lowest level since May of the previous year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Corn futures on the Chicago Mercantile Exchange on Friday fell below $4 a bushel for the monthly contract for the first time since November 2020, as the market was pressured by huge inventories in the U.S. and around the world. Soybean futures in Chicago also fell as weekly U.S. exports fell to their lowest level since May last year. News that at least three U.S.-bound cargo ships were preparing to load soybeans at two ports in northern Brazil also pressured the market. The speed of the drop in corn prices has ...
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