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Harvests, Economic Uncertainty Ease Futures
CHICAGO - Jul 16/08 - SNS -- International cash grain markets remain relatively busy in the face of weakening futures markets, affected by relatively good conditions in North America and Europe as well as uncertainty in non-agricultural commodity markets.
Chicago grains and oilseeds lost ground in overnight trade on optimism over crop prospects because of favorable weather news and worries about the general economic picture. December corn declined 3 cents to finish the overnight session at U.S. $6.63 3/4 per bushel. November soybeans fell 6 cents to $15.10. September wheat dropped 7 1/4 cents to finish overnight trading at $8.03 3/4 per bushel.
Meanwhile, wheat futures in Europe were weaker overnight in the face of increasing harvest selling pressure. Liffe's November Paris milling wheat contract declined Euros 3 to close at Euros 189.50.
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