BUSINESS BRIEF
Corn futures fall as crop estimates likely to rise
12/14/2013CHICAGO — Corn prices fell Friday as traders expected the government to raise its crop production estimate next month.
Corn futures were also falling after China held up some U.S. corn shipments after saying unapproved genetic strains were found. Traders were also worried about preliminary moves in the Senate to attempt to eliminate the mandate to use ethanol in fuels.
The actively traded March contract for corn slumped 8.75 cents, or 2 percent, to settle at $4.255 a bushel Friday.