Corn Plunges Most Since November, Wheat Falls as U.S. Reports Acreage Gain

Corn futures tumbled the most since November and wheat had the biggest plunge since January 2009 as the U.S. government reported grain acreage and inventories that topped estimates by analysts.

Corn futures for July delivery, the contract closest to expiration (and with no exchange-imposed limit) fell 69 cents, or 9.9 percent, to $6.29.

Wheat futures for September delivery tumbled by the CBOT limit of 60 cents, or 8.9 percent, to $6.1425 a bushel, the lowest for a most-active contract since July 29. The decline was the biggest since Jan. 12, 2009.

via Corn Plunges Most Since November, Wheat Falls as U.S. Reports Acreage Gain – Bloomberg.

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