CBOT Corn Falls as Traders Lock in Profits Amid Weaker Crude Oil

Corn futures on the Chicago Board of Trade (CBOT) fell last week as traders took profits ahead of the US harvest, pushing the December contract to a one-week low.

The price dipped briefly to $5.25-1/2 a bushel before recovering to around $5.27-1/2 at the end of the week, according to CFTC data.

The decline can be attributed to two main factors: drier Midwest weather that eased concerns about harvest delays and weaker crude oil prices, which reduced the incentive to blend more biofuel in gasoline.

Traders were also watching for developments from the upcoming meeting between US President Donald Trump and China's Xi Jinping, where agricultural purchases could be discussed.