Concerns about a possible slowdown in global growth amid fears China would crack down on stock market speculation drove Chicago Board of Trade corn futures sharply lower early Tuesday, traders said.
At 10:33 am CST (1633 GMT), CBOT corn was down 6-1/2 to 11 cents, with March down 10-1/4 at $4.15-1/4 per bushel. New-crop December dropped 7-1/4 to $4.10-3/4. Traders said a sharp drop in China's stocks touched off a slide in outside markets like crude oil, gold and stocks so grains including corn suffered spillover selling pressure including some speculative long liquidation. Oat futures dropped 1-3/4 to 3-1/2 cents, with March down 3-1/2 at $2.49-3/4 a bushel.
Comments
Comments are closed.