US maize futures undergo contraction as stocks pile up

02.04.2024

Chicago Board of Trade (CBOT) corn inched lower on Monday, weighed by report of multi-year high stocks, despite expectation of lower planting in 2024.

The CBOT corn fell 0.62% to $4.39-1/4 a bushel by 0331 GMT.

"For corn, despite the reduced acreage, the balance sheet still should be quite heavy," a Singapore-based trader...