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CBOT corn, soy, wheat down sharply at mid-day

Agriculture.com Staff 10/02/2007 @ 10:40am

The Chicago Board of Trade futures trading for corn, soybeans, and wheat is down sharply at mid-day Tuesday.

At 11:40am, the CBOT Dec. corn contract traded 16¢ lower, and hit limit down at one point in the morning trading. The Nov. soybean contract traded 37¢ lower at mid-day, after nearing a limit low. Dec. wheat futures were 26¢ lower, after trading limit down earlier in the morning.

Alan Kluis, Kluis Commodities, says there is a general liquidation of commodities. "Gold, crude oil, and the commodity index are all down. Sometimes, it's not about the supply/demand of the crops, but the supply/demand of the money," Kluis says.

A one hour delay in trading this morning, due to a technical problem. So, from 9:30am to 10:30am, there was no trading.

The Chicago Board of Trade futures trading for corn, soybeans, and wheat is down sharply at mid-day Tuesday.

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