Wheat, corn and soybeans futures dropped Wednesday by the maximum permitted by the Chicago Board of Trade due to heavy sell-offs resulted from panic.
The entire agricultural futures opened much lower than expected this morning based on sharply weaker and eroding gold and crude oil markets. Soybeans and soy oil touched limit-downs early in the session as heavy selling spread across commodity markets in general, then did corn and wheat.
Corn futures for May delivery dropped by the exchange limit of 20 cents, to 5.2725 U.S. dollars a bushel.
Soybean futures for May delivery declined the limit of 50 cents, to 12.57 dollars a bushel.
Wheat futures for May delivery dropped the expanded limit of 90cents, to 10.74 dollars a bushel.
This was the second time in this week that Agri-futures fell to limit-downs altogether.
Source:Xinhua
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