date:May 25, 2012
The decline erased the last of corn's gains seen during a brief, sharp rally last week, which was fueled by surging wheat futures and dry weather. This week, as weather forecasts have improved, traders have refocused on the potential for a record U.S. harvest this year.
The drop to a new low highlights the strong seasonal volatility in corn prices. Futures often whip up and down heading into the summer, as analysts watch shifting weather forecasts for clues about how crops will develop.
Corn