Bloomberg News

Corn, Wheat, Soybeans Tumble in Chicago on U.S. Acreage Report

June 30, 2011

June 30 (Bloomberg) -- Corn fell the most allowed on the Chicago Board of Trade, and wheat plunged to an 11-month low after the U.S. Department of Agriculture reported increases in acreage.

Corn futures for December delivery dropped by the maximum of 30 cents, or 4.6 percent, to $6.205 a bushel at 9:39 a.m. on the CBOT. The July contract plunged as much as 12 percent.

Wheat futures for September delivery declined 52 cents, or 7.7 percent, to $6.2225 a bushel. Earlier, the price touched $6.1425, the lowest since July 29.

Soybeans fell as much as 2.8 percent.

To contact the editor responsible for this story: Patrick McKiernan at pmckiernan@bloomberg.net


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