Corn prices fall after USDA says crops are in great condition
Corn for July delivery fell 6 cents, or 1.3%, to $4.41 a bushel, its lowest price since early February. The U.S. Department of Agriculture (USDA) says that 75% of the U.S. corn crop is in good or excellent condition, compared with 63% the same time a year ago. Crop conditions haven’t been this good in 20 years, according to the USDA.
Other agricultural commodities prices dropped as well. Wheat fell 5 cents, or 1%, to $5.81 a bushel. Soybeans fell 4 cents, or 0.3%, to $14.22 a bushel.