US corn futures fell more than 1% on Monday on slowing grain demand from ethanol makers, as tightening coronavirus pandemic travel restrictions limited demand for the biofuel, reports Reuters.
Soybeans eased too, although losses were limited by concerns about supplies from South America, while wheat, which showed early gains as top exporter Russia appeared poised to restrict shipments, also retreated.
A further drop in crude oil prices kept pressure on grains markets as ethanol producers, users of around a third of the U.S. corn crop, have slashed production or shuttered plants.
