CBOT corn slides to near 4-year lows on beneficial weather
CHICAGO, Aug 1 (Reuters) -Chicago Board of Trade most-active corn futures Cv1 fell to its lowest level on a continuous chart since November 2020 on Thursday as forecasts for cool, rainy weather in the U.S. Midwest boosted yield expectations and depressed prices.
CBOT September corn CU24 settled down 3/4 cent at $3.82 per bushel after hitting a contract low.
Most-active December CZ24 corn ended down 1-1/4 cent at $3.98-1/2 per bushel after hitting a contract low of $3.95 per bushel.
Dealers said farmers were selling their old crop corn as higher prices fade and storage space is needed for new crops.
Ten CBOT corn contracts set lifetime lows. Most-active corn CZ24 ended the day below $4 for the second day in a row.
The USDA reported net corn export sales for the week ended July 25 of 710,900 tons for 2024/2025, within expectations 400,000-800,000 tons.
Reporting by Heather Schlitz, editing by Deepa Babington
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