With the start of the spring-wheat harvest in Arnegard, North Dakota, a week away, the bins on Bob Wisness’s 11,000-acre farm are half full with last year’s crops that have been stranded by a train traffic jam.
Hedge funds cut bullish bets on gold futures by the most in a month as holdings of physical bullion in exchange-traded funds dropped to the lowest since 2009.
Corn futures for May delivery dropped 0.3% to $4.6075 a bushel at 11:28 a.m. on the Chicago Board of Trade. A close at that price would mark the biggest decline since Feb. 11.
U.S. reserves on May 31 will be 558 million bushels, compared with 608 million bushels (16.5 million metric tons) forecast in January, the U.S. Department of Agriculture said today in a monthly report.
