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CORN, SOYBEANS SLIGHTLY LOWER OVERNIGHT; HARVEST STILL BEHIND AVERAGE PACE.

CORN, SOYBEANS SLIGHTLY LOWER OVERNIGHT; HARVEST STILL BEHIND AVERAGE PACE.

Corn and soybeans were slightly lower in overnight trading on harvest pressure and as export inspections were well behind year-ago levels.

The harvest continues to move along, though behind the average pace, for both corn and beans, according to the USDA.

Export inspections of corn, meanwhile, totaled 782,346 metric tons, down from 1.49 million tons during the same week a year earlier, the USDA said in a report. Inspections of soybeans were reported at 894,250 metric tons, down from 1.11 million in 2016.

Corn futures for December delivery fell 1¾¢ to $3.49¾ a bushel overnight on the Chicago Board of Trade.

Soybeans for November delivery lost 2¾¢ to $9.54½ a bushel overnight. Soy meal futures declined $1.80 to $311.80 a short ton, and soy oil gained 0.17¢ to 32.69¢ a pound.

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