Corn futures drop below $5 on heavy quarterly stocks.

Oliver Sloup analyzes the recent sell-off across the grain complex, with December Corn futures dropping below the psychological $5 level following a bearish quarterly stocks report showing 2.095 billion bushels. November Soybean futures also faced downward pressure despite strong weekly export sales topping 1.034 million metric tons, as incoming harvest weather forecasts weighed on the market. Conversely, December Wheat futures managed to bounce from technically oversold conditions, supported by a quarterly stocks figure that landed below expectations.