Corn, Wheat Continue To Fall With Oil Prices

An article by Michelle Rook on AgWeb

Corn and wheat are lower early Wednesday, with soybeans, cattle and hogs mostly higher.

Corn Sees More Fund Selling Following Crude Oil
Corn futures are lower again on Wednesday following the easing crude oil market as Iran peace talks continue to progress.

DuWayne Bosse of Bolt Marketing says, “It sounds like overnight, Iran was going on their local television and saying that the war is basically settled. I think they called it a letter of letter of understanding. It seems like the market feels like the war is generally over so energy prices go down that takes a little bit out of the corn market.”

Weather Bearish Corn
He says planting progress on corn was at 86% nationally on Tuesday and ahead of the five year average of 83% and weather looks a bit bearish.

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