The price of corn on the Chicago Grain Exchange recorded a drop of 3.25 cents in May/17 contracts on Monday (13.03), closing at US$ 3.61 per bushel. The other highlighted commodity positions on the CBOT closed the session with devaluations between 3.25 and 3.50 points.
The North American corn market recorded another session of losses in the main futures prices, pressured by the abundant supply of corn projected in the 2016/17 harvest in South America. Not even the strong weekly exports, announced by the USDA, were enough to hold down cereal prices.
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