Commodities
Corn Futures Slump on Profit-Taking Amid Export Demand Concerns
Corn futures declined below $5.2 per bushel as traders took profits following the recent rally to a three-year high.
The decrease in prices was tempered by concerns over US yields and potential export demand, which continued to support prices.
The latest USDA report showed that 57% of corn crops were classified as good-to-excellent as of August 30, while field assessments indicated mixed and lower-than-expected yields in some areas, raising doubts about the size of this year's harvest.
Chinese officials are reportedly discussing purchases of US agricultural products, including corn, ahead of a potential Trump-Xi meeting.