Corn Edges Lower as Weather Conditions Remain Good

The price of corn dropped, as weather conditions remain favorable for the crop.

Corn for July delivery dropped 1.5 cents, or 0.3 percent, to $4.43 a bushel.

The price of the grain has plunged in the last two months, as rains in the corn-growing regions of the U.S. have been light and temperatures remained moderate. The U.S. Department of Agriculture is forecasting a record crop this year.

“The main part of the corn belt looks very good,” said Todd Hultman, a grains analyst at DTN.

In other trading of agricultural products, wheat and soybeans also fell.

Wheat dropped 8.25 cents, or 1.4 percent, to $5.81 a bushel; and soybeans fell 9.25 cents, or 0.7 percent, to $12.25 a bushel.

Most metals climbed, led by platinum. Gold and silver also ended the day higher.

Platinum for July climbed $15.30, or 1.1 percent, to $1,471.90 an ounce. Palladium for September rose $7.75, or 0.9 percent, to $830.40 an ounce.

Gold rose $2.90, or 0.2 percent, to $1,321.30 an ounce. Silver for July gained 12.70 cents, or 0.6 percent, to $21.04 an ounce. Copper was little changed at $3.15 a pound.

This article appeared in print in the June 25th, 2014 edition of Hamodia.