A rally in Chicago corn futures on Tuesday that was buoyed by a run-up in the energy market sputtered by day’s end as crude oil prices slipped, reports Reuters.
May corn futures climbed nearly 2% in mid-day trading, but cut gains in half as crude oil prices closed down for a second straight day.
Soybean futures settled nearly flat as reports of dryness in Argentina trimming soybean yields were counteracted by a lagging soymeal market.
Wheat futures dropped after the U.S. Department of Agriculture (USDA) assessed the U.S. crop to be in better condition than analysts forecasted.
