Forecasts for warmer and drier weather in a top U.S. growing region prompted corn and soybean futures to slip in value on Thursday, according to Bloomberg.
The reports about more favorable weather in the Midwest during the next week also prompted wheat futures to lose value as April began.
"It's very, very early days really for the market to get too excited about building in a late-planting weather premium," independent grain broker Dave Norris in Harrogate, England told the news source on Thursday. "With all the modern equipment and technology farmers have got now, when they really want to they can plant a lot of corn in a week's time."
At 9:53 a.m. on Thursday, corn futures fell 0.77 percent, a 0.04-cent dip to $5.15 per bushel. At 9:54 a.m., soy futures dropped 1.37 percent, a 0.2075-cent slide to $14.92 per bushel. At 9:53 a.m., wheat futures slumped 0.55 percent, a 0.04-cent loss to $7.175 per bushel.
Reuters reports wheat futures are riding an eight-day bullish trend as the agricultural commodity pushes toward its top value in about 35 days.
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