Corn futures at the Chicago Board of Trade fell to new contract lows early on Friday on spillover selling by speculators after a sharp slide in soy, traders said. Traders said the corn market also continued to struggle against the bearish input from the big stocks of corn globally.
At 10:31 am CST (1631 GMT), the active March corn futures contract was down 2 cents per bushel at $1.98 per bushel. That's below the previous low of $1.98-1/4, which was set on Thursday. The distant contracts ranged from 1 to 2-1/4 cents per bushel lower.