Corn prices were tumbling Monday on concerns that a forecast for a bumper crop could swamp the market.
Benchmark futures prices for corn were losing 4.6% at $3.52 a bushel in recent market action. Other key grains were showing weakness also, with soybeans sliding 2.9% at $9.22 a bushel and wheat easing 1.7% at $6.11 a bushel. Sugar prices were bucking the downward trend, gaining 1% at 10 cents a pound. The PowerShares DB Agriculture(DBA Quote) exchange-traded fund, which tracks prices of corn, soybeans, wheat and sugar, was losing 1.5% recently. In the agricultural complex, shares of Corn Products International(CPO Quote) were off about 1.1% with the weakness in the grains weighing on the stock price. Grain processor Archer Daniels Midland(ADM Quote) was edging slightly higher. Shares of packaged-foods company ConAgra(CAG Quote) were down 0.6%. As for the metals, copper prices were slipping 2 cents at $3.58 a pound, while silver was up 2 cents at $13.13 an ounce. Gold was gaining $1.20 at $668.50 an ounce in New York futures market trading. Mining giant BHP(BHP Quote) will decide within two weeks whether it will bid for Alcoa(AA Quote) according to a report in The Australian newspaper in Sydney. Shares of BHP were losing 2%, while Alcoa was edging 0.1% higher. Elsewhere, the greenback was mixed in the foreign currency markets. The dollar was lower against the yen, buying 121.76, down from 122.01 late Friday. One euro was worth $1.3781 vs. $1.3787 previously, and the pound was at $2.0374, up from $2.0342.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
Oil *
78.55
|
|
UP
34.92
|
UP
4.14
|
UP
6.16
|
DOWN
0.30
|
10 Yr
3.20%
SPDR Gold
115.65
|
|
+0.34%
|
+0.38%
|
+0.29%
|
-0.93%
|
Data delayed 20 minutes |














