Grains tumble

14 Apr, 2012

US grains fell on Friday in risk-off trading after data showed China's economy grew slower than expected in the first quarter, an indicator it could slow purchases of US commodities. Corn dropped 2 percent to a two-week low, reversing course after posting two days of gains, and soyabeans slipped too as economic worries outweighed price-positive prospects such as crop reductions in South America due to drought.
Wheat fell 3 percent, posting its biggest one day loss in a month. At 11:06 a.m. CDT (1606 GMT), CBOT May wheat was down 18-1/4 cents at $6.21 per bushel, May corn was down 9-1/2 cents at $6.28 and May soyabeans were down 4-1/2 at $14.36-1/2 a bushel.

Read Comments