Corn and soyabean futures on the Chicago Board of Trade plunged early on Tuesday on better weather in the US Midwest and improved crop condition ratings, traders said. A drop in the crude oil and gold markets lend additional pressure.
CBOT new-crop December corn briefly fell its expanded daily limit of 45 cents per bushel. As of 9:39 am CDT (1439 GMT), December corn was down 40 cents at $7.07 per bushel, after touching $7.02. New-crop November soyabeans were down 58 cents at $15.03 a bushel.