Summary Box: Corn falls on crop report

AP News
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Posted: Jul 01, 2011 5:06 PM
Summary Box: Corn falls on crop report

CORN, HUSKED: Corn prices fell again Friday but held up better than the day before. That's when the U.S.D.A reported that U.S. farmers had planted far more acres with the crop than analysts expected.

SEEING SUPPORT: Corn fell as much as 45 cents, the maximum one-day move currently allowed for the December contract, but recovered to settle down 23.75 cents at $5.9675 a bushel.

RECENT RECORD: Corn reached a record high of $7.99 June 10 and has been falling steadily since then. The high price has motivated farmers to plant more acres with the grain at the expense of soybeans.