US MIDDAY: corn hits contract low on crop estimate

13 Nov, 2004

Chicago Board of Trade corn and soyabean futures tumbled early on Friday reacting to the government's huge US crop estimates released before the open, traders said. December corn hit a contract low of $1.95-1/2 early, while CBOT soyabeans fell 5 to 6 cents. December corn was down 1-1/2 cents at $1.95-3/4 by 9:34 am CST and January soya was 7-1/4 weaker at $5.12-1/2.

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