CBOT corn stumbles on spillover pressure from weak wheat market

30 Aug, 2019

* Front-month CBOT September corn fell 1-3/4 cents to $3.58 a bushel. December corn, which represents the crop that will be harvested this autumn, dropped 1-1/2 cents to close at $3.69-3/4 per bushel.

* CBOT September corn deliveries totaled 440 contracts, fewer than some traders had expected.

* Deliveries against September wheat contracts were heavier than expected, though, knocking down wheat markets and putting pressure on corn prices.

* Grain traders are waiting for details on a "giant package" related to corn-based ethanol that President Donald Trump said on Thursday his administration is planning.

* Traders were also evening up positions ahead of the three-day Labor Day weekend and at the end of the month.

Copyright Reuters, 2019

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