US corn prices fell nearly 2 percent on Thursday's early trade and soyabeans eased almost 1 percent as each market set back on a lack of fresh bullish news, analysts and traders said. The worst drought in over a half century in the US crop belt boosted new-crop December corn to a record high of $8.49 nearly two weeks ago, but the feed grain is now nearly 3 percent below that peak as the harvest draws near.
November soyabeans reached a contract high of $17.44-3/4 per bushel in early trading, then began to slide on profit-taking. Chicago Board of Trade December corn was down 12 cents per bushel at $8.22-3/4, November soyabeans were down 10 cents at $17.17-3/4 and September wheat was down 3-1/2 at $48.93 a bushel.