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Corn continues falling, but beans rebound

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Markets continued to deal with the impact of Monday’s USDA report. “The corn and wheat markets were on the defensive on leftover fuel from USDA data dump yesterday,” Ami Heesch, with CHS Hedging, said. “This week’s US/Chinese trade talks have led to a delay on imposing a 10% tariff on more Chinese goods.”

“Bear spreading was again a primary feature as traders shed contracts after an extremely negative USDA report released yesterday in which, from expectations, acreage was higher, yield was higher, and demand lower,” Stewart-Peterson said. “It was a triple whammy for the corn market which has now lost more than 40 cents in two sessions.”

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