COM - Wheat falls to four-month low; corn slumps with more rain in forecast

U.S. wheat futures fell to their lowest price since February on Monday, pressured by the expanding harvest of winter wheat in the northern hemisphere and a lack of demand for U.S. supplies, according to Reuters. CBOT wheat (W_1:COM) for September delivery settled -2% to $9.17 1/2 per bushel, and December corn (C_1:COM) closed -3.1% to $6.53 per bushel, but November soybeans (S_1:COM) ended +0.6% to $14.32 3/4 per bushel. ETFs: (NYSEARCA:WEAT), (NYSEARCA:CORN), (SOYB) "Wheat has no friends right now. We are at harvest time and that is weighing on the market... And the demand is just really bad, especially for the export side," Price Futures analyst Jack Scoville told Reuters. Better than expected weekend rains in parts of the Midwest that should boost crop prospects pressured corn and wheat futures. "Corn is showing the most weakness due to weekend rainfall across Illinois that produced some needed soil moisture, with the

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Wheat falls to four-month low; corn slumps with more rain in forecast