Corn slides again, extending recent losses

Corn futures slumped again Tuesday, extending a recent slide brought on by expectations of a huge crop this year.

Corn for December delivery fell 6.5 cents to $3.82 a bushel.

The price of corn has been falling steadily over the past several weeks and traded as high as traders expect favorable growing conditions in the U.S. to translate into a bumper crop. Corn traded as high as $5.22 a bushel on April 29.

Other crops were little changed. Wheat was flat at $5.38 a bushel and soybeans were unchanged at $10.86 a bushel.

In metals trading, August gold fell $9.60 to $1,297.10 an ounce. September silver fell 2.5 cents to $20.89 an ounce.

September copper was flat at $3.25 a pound.

Platinum for October delivery fell $8 to $1,485 an ounce and September palladium fell $3.45 to $868.55 an ounce.

Energy prices fell. Oil dropped 95 cents to $99.96 a barrel.

In other trading, wholesale gasoline fell 2.6 cents to close at $2.899 a gallon, natural gas fell 5 cents to close at $4.097 per 1,000 cubic feet and heating oil shed 1.7 cents to close at $2.856 a gallon.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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