US corn futures fell on Wednesday for the biggest three-day slide in about seven months, and fell briefly to their 30-cent limit, as a surge in the dollar and worries about softening demand from the ethanol sector spurred fund selling. Soyabeans turned lower, extending their losing streak to five days, as the sell-off in corn reversed a light short-covering bounce.
Wheat was also dragged down by corn, along with talk of better-than-expected yields from early stages of the US winter wheat harvest.
At the Chicago Board of Trade as of 11:42 am CDT (1642 GMT), CBOT July corn was down 29 cents at $7.26-1/2 per bushel. Corn has fallen 7.8 percent over the last three days to a low last seen on May 18. July soyabeans were down 10-3/4 cents at $13.57-3/4 a bushel, and July wheat was down 24 cents at $7.07-1/4 a bushel.
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