(NASDAQ) – U.S. grain futures were little changed on the final trading day of the year on Tuesday, with corn, wheat and soybeans all set to post steep annual declines.
Trading volumes were expected to remain light as many investors already closed books before the end of the year.
On the Chicago Mercantile Exchange, corn futures for March delivery traded at USD4.2313 a bushel, flat on the day. The March contract held in a tight range between USD4.2238 a bushel and USD4.2338 a bushel.
CBOT March corn settled 0.94% lower on Monday to end at USD4.2340 a bushel.
Corn prices lost approximately 40% in 2013, the biggest annual loss on record, amid expectations this year’s corn harvest in the U.S. will be the largest on record. Prices of the grain slumped to a four-year low of USD4.1540 a bushel on November 8.
Elsewhere on the CBOT, wheat for March delivery traded at USD6.0050 a bushel, down 0.1%. Wheat prices fell to a daily low of USD5.9988 a bushel earlier, the weakest level since May 15, 2012.
The March contract ended down 1.4% on Monday to settle at USD6.0040 a bushel.
Wheat prices slumped nearly 23% this year, the biggest annual loss in five years, as increased production in Australia and Canada underlined concerns over ample global supplies.
Meanwhile, soybeans futures for March delivery traded at USD13.0575 a bushel, 0.2% lower. Prices of the oilseed traded in a range between USD13.0488 a bushel and USD13.1088 a bushel.
The January soy contract settled down 0.38% on Monday to end at USD13.0860 a bushel.
Soybean prices are on track to post an annual loss of almost 7.5% as farmers worldwide are expected to harvest a record 284.9 million tons of the oilseed.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
