Grain Prices Ease on Favorable Midwest Weather
Corn, soybeans and wheat retreat after Friday's bounce
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.