The corn prices at the CBoT are currently trading slightly below the previous day's closing price. The financial instrument was trading at the lowest price since September 2009.
Corn prices in Chicago are influenced by the WTI crude oil price, the new front month of June of which is 5.5% weaker at the hour but in positive territory. The May 20 futures contract of the WTI futures expired yesterday. Some of the future traded with a negative sign. Market participants are concerned that the demand for corn-based ethanol will drop and that storage capacity will become scarce.
In addition, the expected expansion of corn acreage in the US is depressing corn prices. Temperatures are rising there and field work is now picking up speed. 
Source
Hansa Terminhandel GmbH
