Chicago Board of Trade corn futures fell on Tuesday as hopes of improving US crop weather for the eastern Midwest spurred fund long liquidation, traders said. Old-crop July corn was down 3-1/4 cents at $2.18-1/4 per bushel at midday CDT (1700 GMT). New-crop December was 2-3/4 cents weaker at $2.38-3/4.
But the decline in corn was modest compared with the massive selling in the neighbouring soybean pit. New-crop November soyabeans fell nearly $1 over the past two days, with sell-stops triggered all the way down amid easing crop jitters.
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