CBOT corn futures turned down 1 to 2 cents per bushel near midday on Wednesday as crude oil fell and traders said the sale of US corn to China had already been factored into the corn market. At 11:10 am CDT (1610 GMT), CBOT July corn was down 3/4 cent at $3.76-1/4.
CBOT July wheat turned down 1-1/2 cents at $4.91-3/4 per bushel as corn sagged from the early highs, traders said. July soyabeans down 2-1/4 cents at $9.63-3/4 per bushel. Turned down when crude oil fell, with additional pressure from corn/soy and wheat/soy spreading. Wet weather in the US Midwest also may lead to more soy acreage at the expense of corn area, a bearish factor for soya and bullish for corn.
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