The price of corn on the Chicago Grain Exchange recorded a drop of 8.50 cents in December/16 contracts on Wednesday (12.10), closing at US$ 3.37 per bushel. The other highlighted commodity positions closed the session with devaluations between 8.00 and 8.50 points.
After starting the day with an upward bias awaiting the USDA, the North American corn market suffered losses in the main futures prices. This is despite the fact that figures from the United States Department of Agriculture confirm market forecasts of a drop in productivity for the 2016/17 harvest (from 184.57 bags to 183.52 bags per hectare), reducing total production to 382.48 million of tons and stocks to 58.94 million tons.
Source: Agrolink
