# U.S. grains: Chicago corn falls below $4 on beneficial weather | Farmtario

> Chicago December corn futures settled below $4 per bushel and hit a contract low on July 31, 2024, as favorable U.S. crop prospects weighed and farmers sold old-crop stocks. Soybeans rose on higher crude oil amid Middle East tensions, and wheat stabilized on poor French harvest prospects.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/29298-u-s-grains-chicago-corn-falls-below-4-on-beneficial-weather-farmtario
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Benign weather and heavy farmer selling point to continued pressure on corn and soybean prices, which lowers feed grain costs for buyers. Crude-driven soy strength and French wheat support give limited offsets.

## Read by commodity

- SOY: bearish ▼
- WTI: bullish ▲
- CORN: bearish ▼
- WHEAT: neutral

## Sources

- farmtario.com: https://farmtario.com/daily/u-s-grains-chicago-corn-falls-below-4-on-beneficial-weather/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.