Corn futures at the Chicago Board of Trade were lower early on Friday amid massive deliveries on the December contract, falling crude oil, end-of-month long-liquidation and a sharp drop in wheat and soy, traders said.
At 10:12 am CST (1612 GMT), CBOT corn was down 2-1/4 to 4-1/2 cents per bushel lower, with December down 2-1/2 at $3.81 per bushel. March was down 2-3/4 at $3.98 per bushel.
Friday was first notice day for deliveries on the December contract and the total at 3,403 lots was well above trade estimates for moderate deliveries of 1,000 to 2,000 lots. Oat futures were 3-1/4 to 4-1/2 cents per bushel lower, with December down 4-1/4 at $2.63-3/4 per bushel.