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Grains Slump on Good Crop Weather

Weak outside markets hung over grain futures

U.S. soybean futures eased for a third straight session on Wednesday and corn futures were mostly lower as forecasts for rains and limited crop-stressing heat across the Midwest farm belt bolstered production prospects, reports Reuters.

Weak outside markets also hung over grain futures, with equities and crude oil posting steep losses as rising coronavirus infection rates stoked fears of renewed lockdown measures and economic damage.

Forecasts for rains throughout the Midwest and generally mild temperatures tempered concerns about recently planted corn and soybean crops.

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