Friday, 24 November, 2017

USDA: Neb. corn harvest at 86 percent complete

Corn falls Corn harvest still lags, soybeans nearly done
Melissa Porter | 15 November, 2017, 02:35

The CME Group reported 137 deliveries against CBOT November soybean futures, which expire on Tuesday.

Flat to weaker in rangebound trade amid a lack of market-moving news.

The Agriculture Department's latest estimates put South Dakota's corn crop at 788 million bushels, down 5 percent from previous year. Futures underpinned by a decline in U.S. crop condition ratings and the fact that commodity funds already hold a large net short position in CBOT wheat futures.

Winter wheat planting is now 97 percent finished.

The most active corn futures on the Chicago Board of Trade were down 0.2 percent at $3.43 a bushel by 0151 GMT, having gained 0.6 percent in the previous session. January soybeans dropped 12.75 cents, or 1.29 percent to 9.7425 dollars per bushel. The Brazilian weather forecast is wet with heavy rains, which are expected to cross the northern and central areas of the crop belt through early December.

Sorghum was 83 percent harvested, behind 98 percent previous year and an average of 92 percent.