Chicago corn, wheat and soybean futures eased on Monday, giving up some of the previous session's gains as crop-friendly weather in the U.S. Midwest put the focus back on the prospect of hefty supplies, reports Reuters.
Corn had led a slide in Chicago grain futures for most of last week after a higher than expected USDA estimate of this year's U.S. corn crop, with a stronger dollar and the continuing trade dispute between Washington and Beijing adding to price pressure.
Some market participants view the USDA's corn estimates as too high and caution that late-developing corn and soybeans will also be vulnerable to early autumn frosts.
