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Corn prices fell 1.5% on Friday after a technical sell-off and profit-taking following brief touches of 18-month highs, while soybeans also declined. Market participants expected higher U.S. corn plantings ahead of the USDA Outlook Forum, and crude oil dropped to around $70 per barrel.
Expectations of larger U.S. corn acreage point to more supply later in the year, pressuring corn prices, while lower crude oil weighs on ethanol-linked demand.
farmprogress.pl.barchart.comBen PotterFeb 21, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Feb 21 technical sell-off and profit-taking (-1.5%) plus expectations of larger US plantings and weaker crude started the weekly decline.
Friday's technical sell-off and profit-taking after 18-month highs, plus expectations of higher U.S. plantings, set up downside momentum carried into Monday.
