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Farm markets plunge

Updated: 09/22/2011 @ 2:28pm

DES MOINES, Iowa (Agriculture.com)--The plunging outside markets kept the CME Group farm futures sharply lower Thursday.

The Dec. corn futures settled 35 3/4 cents lower at $6.50. Remember, the new corn daily trading limit is 40¢.  The Nov. soybean contract closed 37 1/2 cents lower at $12.83. The Dec. wheat futures settled 33 cents lower at $6.33 3/4. The Dec. soymeal futures closed $9.10 per short ton lower at $335.10. The Dec. soyoil futures settled $1.40 lower at $53.94.

In the outside markets, the NYMEX crude oil is $5.75 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 462 points.

On Thursday, China announced lower manufacturing data for the third month in a row. Also, Europe's financial crisis worsens and the U.S. political division all are weighing on the stocks market and ultimately the commodities markets.

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