Wheat fell 2.5 percent on Monday as a rising dollar weighed on grains, and improved prospects for Russia's crop accelerated wheat's plunge. Wheat fell the hardest, with an analyst raising its harvest outlook for No 4 wheat grower Russia, while conditions in the US corn belt as crops enter pollination underpinned corn.
Severe drought kept Russian wheat out of the world market last year. Chicago Board of Trade September wheat lost 2.5 percent or 16 cents to $6.35-1/4 per bushel by 12:40 pm CDT (1740 GMT), while new-crop December corn fell 1.2 percent or 7-1/4 cents to $6.29-1/2 a bushel. The November soya contract's losses were more moderate, easing 0.1 percent or 3/4 cent to $13.45-1/2 per bushel.