US corn and soyabean futures fell on Tuesday, with corn on pace for its biggest daily loss in four months, on pressure from forecasts for crop-boosting rain in the Midwest and talk of waning demand for US exports, traders said. Wheat also fell, breaking a six-day rally due to forecasts for rain in Russia's drought-stricken breadbasket regions and pressure from a firming dollar, traders said.
CBOT July wheat fell 14-1/4 cents to $6.89-3/4 a bushel by 12:15 pm CDT (1715 GMT) after rising to its highest since September 7 on a continuation chart in Monday's session. July corn dropped 29 cents to $6.04 a bushel, while soyabeans fell 28 cents to $13.84-1/2 per bushel. The 4.5 percent drop in corn was the biggest in percentage terms since a 6.1 percent loss on January 12.