Corn has not been this cheap since August in the global market

Updated Mar 1, 2023
Crop prices fell further on Tuesday on the commodity markets. In Chicago, the exchange rate for corn decreased by 2 percent and soybeans by 2.2 percent, meanwhile, the exchange rate for wheat decreased by 0.4 percent. The price level of canola has stagnated. In Europe, the rates of all four priority agricultural products, mill wheat, corn, rapeseed and fodder wheat, closed in the red.
Corn futures in the United States fell to their lowest level in more than six months on Tuesday, and soybean and wheat futures also fell due to the liquidation of investment funds at the end of the month, traders said. Soybeans had the biggest fall, the price fell by 2.2% on the most active deadline, which is the biggest daily drop since December 1. Soybeans were the most vulnerable to selling, traders said, as wheat and corn had already fallen significantly since the start of 2023, while the soybean market had to catch up with trends. Liquidation of positions has begun and soybeans are catching up with feed grains said Mike Zuzolo, president of Global Commodities Analytics. Additionally, soybeans faced fundamental pressure as recently harvested supplies from Brazil's largest producer became available on the global market. Soybeans fell 3.8% last month, the first monthly decline since September. Corn futures fell 7.3% in February, the biggest monthly decline since June. Wheat ...
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