US wheat fell 4 percent to a seven-month low on Wednesday on long liquidation by funds which was sparked by brighter prospects for global wheat output and advances in the US winter wheat harvest. Corn fell its daily 30 cent trading limit and plunged 15 percent below the record high of almost $8 per bushel it set a little over a week ago.
At 10:39 am CDT (1539 GMT), CBOT July wheat was down 30 cents per bushel at $6.44-1/4, corn for July was down 25 at $6.82-1/2 and July delivery soybeans were down 13-1/2 at $13.35-1/4.
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