US corn hits 4-year low on crop outlook


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Global output of raw corn futures for December delivery fell 1.7 percent to close at $3.72 a bushel on the Chicago Board of Trade. Earlier, the price touched $3.705, the lowest for a most-active contract since July 14, 2010. The price has dropped 26 percent in the past 12 months.

“The growing season continues in nearly perfect form here in the U.S. and in much of Canada,” economist Dennis Gartman wrote in his newsletter. “This relentless bear market shall not end until the nation’s farmers have sold their crops.”

Via US corn hits 4-year low on crop outlook - Blog Propurchaser
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