Corn futures on the Chicago Board of Trade led most of the grains floor lower on Monday as funds that had built up massive long positions kept liquidating after last week's bearish US corn stocks data, traders said. A rebound in the battered US dollar added pressure. Commercial buying helped underpin the corn market, limiting declines.
CBOT grain and soy complex trends at 10:04 am CDT (1504 GMT) on Monday: December wheat down 2 cents at $6.53 per bushel. Fell to a two-month low on continuous price charts, following weakness in corn. Additional pressure from strong dollar, and news Egypt snubbed the US and bought French and Canadian wheat in a weekend purchase. Technical buying and short-covering limits declines. December corn down 1-1/2 cents at $4.64-1/4 per bushel. November soyabeans down 1-1/2 cents at $10.55-1/2 a bushel.