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China, U.S. Dollar send grains diving

Jeff Caldwell 11/16/2010 @ 11:06am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Corn and soybeans are in a freefall on the CME Group trading floor Tuesday morning, with both trading sharply lower and taking wheat along for the ride.

At mid-day, December corn is 26 3/4 cents lower at $5.28 3/4 per bushel, while January soybeans are 65 cents lower at $12.21 1/2, according to Barchart.com. December wheat is 39 3/4 cents lower at $6.33 per bushel.

China's monetary policy remains the underlying force behind Tuesday's dive, while gaining strength in the U.S. Dollar index is chipping in, too, according to a Dow Jones Newswires report.



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