Positive signs for crops send corn prices lower

Staff Writer
Columbus CEO

Positive signs for corn and wheat crops sent futures prices for those grains lower.

Soybean futures also lost ground.

Corn for July delivery fell eight cents, or 1.7 percent, to close at $4.70 a bushel Tuesday. Wheat fell 12 cents, or 1.8 percent, to $6.41 a bushel. Soybeans lost 27 cents, or 1.8 percent, to $14.89 a bushel.

Better weather conditions in the U.S., including much-needed rainfall to parched growing regions, sent prices for grains and beans lower.

There were also signs that farmers are making good progress on planting their crops.

In metals trading, gold fell $26.20, or 2 percent, to $1,265.50 an ounce. Silver lost 35 cents, or 1.8 percent, to $19.07 an ounce.

Crude oil for July delivery fell 24 cents to $104.11 a barrel.