Good News Drives Corn Down

Corn prices look likely to end this week with the biggest monthly drop since April. Corn futures   for delivery in December tumbled to $5.32 a bushel as of 1 p.m. Friday. Goldman Sachs cut its forecast to $4.75 a bushel from $5.25. Earlier this year, corn traded around $7 a bushel.

Good news about this year's harvest has driven prices lower. The U.S. Department of Agriculture is forecasting that this year's harvest could hit 14.005 billion bushels, a 30% increase from last year's drought-reduced harvest. The U.S. harvest would boost global production by 12% to a new record....449 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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