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Corn futures fell toward $5 a bushel, pressured by a stronger US dollar and caution ahead of the USDA’s monthly WASDE report due Friday. Prices surged to a one-week high on Tuesday after weekly USDA data showed corn harvest progress and crop conditions below market expectations. Only 23% of the US crop had been harvest
Chicago corn eased from a one-week high on Wednesday, curbed by a stronger dollar and caution before a new government forecast of a US crop marked by adverse weather, analysts said. Wheat futures also fell from a one-week peak.
Corn futures declined on Wednesday, moving away from a one-week high, influenced by a stronger dollar and trader caution ahead of a new US government crop forecast. Adverse weather conditions in the US have been a focus for the market.