US wheat prices fell 2 percent early on Wednesday on forecasts for crop-friendly rains in the drier areas of the US Plains hard red winter wheat growing region. Corn and soyabeans also tumbled on profit-taking and plentiful moisture in the heart of US corn and soy producing areas of the Midwest.
At 10:21 am CDT (1521 GMT), wheat for May delivery was down 10-1/2 cents at $5.24-1/2 per bushel, May delivery soya was down 17 cents at $9.50 per bushel and corn for May was down 6-3/4 cents at $3.87 per bushel. The grain market shrugged off a nearly 200 point advance in the US stock market.
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