CANBERRA- Chicago corn and soybean futures edged lower again on Monday after the US Department of Agriculture last week confirmed that ongoing US harvests will be among the largest on record.
Wheat futures also slipped after the USDA raised its global wheat supply outlook, though concerns about exports from the Black Sea limited losses.
The most-active corn contract on the Chicago Board of Trade (CBOT) was down 0.2 percent at $4.14-3/4 a bushel and trading at its lowest level since Sept. 27.
CBOT soybeans slipped 0.2 percent to $10.04 a bushel after falling below $10 for the first time in a month.
US farmers produced even more corn than expected this year, the USDA said in a report on Friday, with the country on track for its second-biggest harvest ever.
The USDA trimmed its US soybean forecast but production is still set to be the highest on record.
The United States is the world’s largest corn exporter and the No. 2 soybean supplier.
