GRAINS-Corn falls for second session, near one-week low on US crop prospects
SINGAPORE, July 8 (Reuters) - Chicago corn futures lost more ground on Tuesday, with prices dropping to their lost in almost one week as improved U.S. crop rating and expectations of more beneficial weather pressured prices.
Wheat fell, while soybeans were largely unchanged.
FUNDAMENTALS
* The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 fell 0.2% to $4.20 a bushel, as of 0016 GMT, have dropped to its lowest since July 2 at $4.19 a bushel.
* Soybeans Sv1 flat at $10.20-3/4 a bushel and wheat Wv1 slid 0.3% to $5.47 a bushel.
* The U.S. Department of Agriculture said after trading ended that 74% of the nation's corn crop was in good or excellent condition, up one percentage point from a week earlier.
* Rains have benefited the U.S. Plains and western Midwest, and boosted soil moisture in Iowa, according to weather firm Vaisala.
* Temperatures will be near normal in most areas this week, the firm said, favouring the corn crop during the critical pollination period of development.
* Farmers in Brazil's center-south had harvested 28% of their 2025 second corn crop as of last Thursday, agribusiness consultancy AgRural said on Monday, up 10 percentage points from the previous week but well below the 63% reported a year earlier.
* Large speculators increased their net short position in CBOT corn futures in the week to July 1, regulatory data released on Monday showed.
* The Commodity Futures Trading Commission's weekly commitments of traders report also showed that noncommercial traders, a category that includes hedge funds, trimmed their net short position in CBOT wheat and increased their net short position in soybeans.
MARKET NEWS
* Major stock indexes declined while the dollar strengthened on Monday as U.S. President Donald Trump unveiled sharply higher U.S. tariffs on goods from Japan, South Korea and other countries in the latest development in the U.S. trade war. MKTS/GLOB
DATA/EVENTS (GMT)
No data/events expected for Tuesday, July 8
Related Articles
What is BNB? Can CZ's Return to Binance Propel It to $2700?
It’s also worth noting that 2028 marks Bitcoin’s fifth halving — a historically bullish catalyst. If past cycles repeat, BNB could ride the wave to new highs. Considering macroeconomic trends, supply dynamics, CZ’s potential return, and the next bull market, Standard Chartered’s target seems increas
Fed Rate Cut Finally Arrives,Dollar Index: Negative Catalysts Largely Priced In,Euro Rally May Be Running Out of Steam
Tradingkey - The Federal Reserve lowered the target range for the federal funds rate by 25 basis points to 4.00%–4.25% late yesterday, as widely expected, and signaled two additional rate cuts this year.
Meta Connect 2025: An Inflection Point for AR Wearables?
TradingKey - Meta Connect 2025 kicks off this Wednesday, and expectations couldn’t be higher.
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.
ASML Q2 FY2025 Earnings Review: Strong Growth and High-NA EUV Breakthrough Shadowed by 2026 Uncertainty
ASML Holding N.V. (NASDAQ: ASML) released its Q2 FY2025 earnings on July 16, 2025, exceeding market expectations with robust net sales and net bookings, though the stock fell around 10% due to cautious guidance for 2026 amid geopolitical uncertainties.
