US MIDDAY: corn tumbles

30 May, 2008

July corn was down 9-1/2 cents at $5.83 per bushel, new-crop December down 9-1/2 at $6.10.Lower on month-end positioning by funds and spillover weakness from soyabeans, crude oil and gold. Dollar strength adds pressure.
Wet and warmer US weather viewed as generally favourable for planted crops, although rains expected this week could stall late planting.

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