THE US corn and wheat futures have recently hit contract lows and multi-year lows on a most-active basis, tumbling significantly from record or near-record highs set last year.
Unusually hot and dry weather has gripped top soybean exporter Brazil as it plants what is supposed to be a record crop, causing concern for both soybean and corn supplies as soybean problems could bleed onto Brazil’s heavily exported second corn crop next year.