After the heavy rainfall and lower than expected stocks in the US had catapulted the corn price to a one-year high last week, it has now fallen slightly following a drier weekend and in the face of a stronger US dollar.
Soybeans also dropped slightly again after having surged within just a few days from a five-year low of marginally over 900 US cents to nearly 1,040 US cents per bushel, putting them at their highest level since the turn of the year. This is because higher prices on the world market and the weaker Brazilian real had prompted many Brazilian suppliers to sell soybeans, says Commerzbank.
