Soyabeans fell for a second straight day early on Tuesday as the harvest advanced at a record pace and euphoria over the US Federal Reserve's monetary easing faded, but losses were pared by bargain buying after prices tumbled to a one-month low.
Wheat futures were volatile, trading in a 17-cent range in the absence of fresh fundamental news apart from continued concerns over dry weather in the US winter wheat region ahead of seeding. Corn was range-bound, posting minor gains or losses even as the harvest progressed in the Midwest farm belt. Market action was centered in Soyabeans, as it was on Monday, when prices tumbled 4 percent and by the daily trading limit of 70 cents on anecdotal accounts of Midwest harvest yields being better than expected.
Chicago Board Of Trade November soyabeans fell 1.0 percent to $16.52-1/4 by 11:16 am Central time (1616 GMT), recovering from a session low of $16.30-1/2. December corn futures were 0.3 percent lower at $7.45-1/2 per bushel, reversing earlier gains, while December wheat was 0.7 percent lower at $8.72 per bushel after being 1 percent higher earlier in the day.
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