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Commodities

Corn and Cotton Prices Plummet Amid Profit-Taking and Strong Dollar

Guavy AI Editorial Team
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Oil Corn
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Cotton futures hit their lowest level in five weeks amid profit-taking pressure and weak long liquidation from shorter-term traders.

The corn market saw a decline of 3.75 cents to $5.30.50, nearing the daily low, as lower crude oil prices and a stronger US dollar index contributed to the downturn.

This week's rally in the US dollar index to a six-week high has been a negative factor for corn, according to Pro Farmer.

The USDA reported weekly US corn export sales totaling 1.027 MMT during the week ended September 10, which fell within analysts' expectations of 700,000 MT to 2.0 MMT.

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