Corn Drops to Lows for the Week

Corn drops to lows for the week as corrective pullback continues; soybeans and wheat also lower.

grain calls
grain calls
(Commodity Update)

Corn: 10 - 12 cents lower.

Soybeans: 14 - 15 cents lower.

Wheat: 6 - 14 cents lower.

Cattle: Steady-firmer

Hogs: Steady-mixed

Corn futures fell to lows for the week overnight as grain markets extended a corrective pullback driven by escalating global recession concerns. Soybeans and wheat also fell. Front-month crude oil futures have worked off their overnight lows but are still nearly $1.50 lower and trading at the lowest level in over a week. U.S. stock index futures signal a stronger open, while the U.S. dollar index is modestly higher.