The prices of the CBoT corn futures fall this morning for the seventh session in a row, reaching their lowest level since 2016. The fall in the crude oil price is eroding the demand for corn-based ethanol.
Petrol consumption in the USA plays a crucial role in this.
A meeting of large oil exporters scheduled for today, in which advice should be given on reducing the production volumes, was postponed. That depresses crude oil prices at the hour.
The CBoT corn course is also under pressure as a large harvest is expected in the United States. In the meantime, more and more participants in the agricultural market understand that. 
Source
Hansa Terminhandel GmbH
