CHICAGO: The Chicago Board of Trade corn futures closed on Tuesday after a rally in the soybean market as rainy conditions in Brazil threatened to slow the sowing of corn in that country.
However, prices closed significantly from its high as the market has been put under pressure by technical sales and robust crop expectations in South America.
Despite the prospect of planting delays, Brazil could see a bumper crop, according to the average forecast of a Reuters poll of 11 analysts Produce 108.2 million tons as farmers expand the plantations to an area of 19.44 million hectares at good prices.
Ref: https://www.brecorder.com
