Chicago soybeans and corn futures slid on Monday, with both falling for five out of six sessions, weighed down by a brisk pace of U.S. harvest, reportsReuters.
Traders expect market to remain under pressure in the coming days as U.S. harvesting of corn and soybeans speeds up and growers book sales.
Coceral has cut its forecast of this year’s maize harvest in the European Union plus Britain to 62.8 million tonnes from 64.6 million projected a month ago, the grain trade lobby said on Friday, citing the impact of hot, dry weather.
