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July corn (ZCN26) futures on Friday fell 9 cents to $4.46 3/4 and hit a three-month low.
For the week, July corn was down 16 1/2 cents.
July soybeans (ZSN26) fell 7 3/4 cents to $11.86 3/4 and for the week were down 9 3/4 cents.
July soft red winter (SRW) wheat (ZWN26) futures on Friday fell 13 1/2 cents to $6.10 1/2, hit a three-week low, and for the week were down 35 3/4 cents.
July hard red winter (HRW) wheat (KEN26) futures lost 15 1/2 cents to $6.49 3/4, hit a five-week low, and for the week down 32 1/4 cents.
Corn futures ended the week and the month of May with less than a whimper.
Friday’s technically bearish weekly and monthly low closes set the corn futures market up for more chart-based selling pressure early this week.
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Sign up now! Last week’s downdraft in crude oil prices cast a pall over most of the raw commodity futures market sector, including the grains.
The selloff in WTI crude oil (CLN26) futures saw prices drop below $87 at one point on Friday.
Last week’s export sales tally also worked to embolden the corn bears.
The USDA on Friday morning reported weekly U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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