Corn, Soybean Futures Remain at Multi-Month Lows

Chicago Board of Trade corn futures hovered near a four-month low on Thursday while soybean futures set a 2-1/2-month low under pressure from large US harvests, analysts said.

The US Department of Agriculture is scheduled to issue an update on the size of the nation's corn and soybean crops in a monthly report next week.

Analysts, on average, expect the agency to peg corn production at 15.962 billion bushels, down from its October estimate of 16.034 billion, according to a Reuters poll. The harvest would still be the second-largest in history, after last year's record crop.

"We're trying to digest a bigger crop than we thought we had in the middle of the summer," said Don Roose, president of brokerage US Commodities.

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