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Commodities

Corn and Soybean Futures Plummet Amid Profit-Taking Pressure

Guavy AI Editorial Team
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Corn
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Corn futures closed at three-week lows on Friday, down 2.75 cents for the week.

The condition of France's corn crop worsened to a record low last week due to hot and dry weather.

Traders will be watching the weekly USDA crop progress reports, which are released on Monday afternoons.

The coming weeks will see increased harvesting and commercial hedge pressure, which could add to selling pressure in corn futures.

Soybean prices fell 16.25 cents to $13.03.50 for November delivery, while soybean meal dropped $12.70 to $358.60.

The USDA reported daily export sales of 110,000 MT of U.S. soybeans for delivery to China during the 2026-27 marketing year.

Brazil's soybean exports are expected to total 115 MMT, down 400,000 MT after China increased U.S. soybean purchases.

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