Soy Complex Weighs on Corn Futures Amid European Crop Concerns

Corn futures are under pressure, down by as much as 6 cents at midmorning, due to spillover selling from the soy complex. The soybean market is facing continued liquidation and selling pressure, with September soybeans testing support at their 20-day moving average.

The European crop outlook remains uncertain, with low soil moisture affecting many areas, particularly in France and southern England. Hot weather later this week and next will add to production concerns.

Cattle futures are posting corrective gains after early-week selling, while hog futures are lower due to a decline in wholesale fundamentals and slowing cash index gains.