CHICAGO — A set of bearish government estimates released Monday reignited concerns about anemic demand amid a world recession and sent Chicago Board of Trade grain and oilseed futures plunging, analysts said.
CBOT corn and soybean markets fell by their exchange-imposed daily trading limits. March corn fell 30 cents to $3.8075 per bushel while nearby January soybeans fell 83.50 cents to $9.54 per bushel.
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Editor’s Note: Analysts quoted in the article believed soybeans may bounce back faster than corn, due to several supply/demand factors that are favorable to soybeans.