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Corn Drops on Ethanol Demand Concerns

Lower oil demand amid lockdowns curb ethanol consumption

November 30, 2020
Car fueling up

Chicago corn futures slid 1% on Monday, as lower oil consumption amid coronavirus lockdowns raised concerns over demand for the grain-based fuel ethanol.

According to a Reuters report, wheat fell for a sixth consecutive session to its lowest since mid-October while soybeans lost ground after closing higher on Friday.

Improved weather in parts of South America also added pressure on prices.

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