Bloomberg News

Corn, Wheat Drop in Chicago After USDA Report; Soybeans Rally

October 12, 2011

Oct. 12 (Bloomberg) -- Corn and wheat prices declined on the Chicago Board of Trade, after the U.S. Department of Agriculture forecast bigger inventories than analysts expected. Soybeans rallied.

Corn futures for December delivery fell 0.5 percent to $6.415 a bushel as of 9:36 a.m. in Chicago, heading for the first decline this week. Wheat futures for December delivery dropped 3.1 percent to $6.405 a bushel on the CBOT, after gaining 8.1 percent yesterday.

Soybean futures for November delivery advanced 0.7 percent to $12.4375 a bushel in Chicago, heading for the third straight gain.

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net


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