Afternoon Comments 08/01
Corn futures remained under pressure Friday. Prospects for a huge fall crop rather obviously weighed upon corn prices again today, especially with Corn Belt rainfall now forecast for the next two weeks. The fact that nearby futures failed at their 10-day moving averages this week probably exaggerated CBOT selling. September corn settled 4.5 cents lower at $3.525/bushel Friday, while December lost 4.75 cents to $3.6225.