US grains slumped to their lowest in more than a month early on Monday on renewed concerns about Greek debt and pressure from a surging dollar. Weekend rains in some areas during planting season added to bearish sentiment about wheat, while corn pared losses on rumours of Chinese demand for US or Argentine corn.
Chicago Board of Trade December wheat dropped 11-1/4 cents or 1.6 percent to $6.77 a bushel by 10:55 am CDT (1555 GMT), having touched the lowest price since August 9. Winter wheat traded in Kansas City and Chicago dropped faster than corn after weekend rains fell in parts of the drought-ravaged southern US Plains where farmers are planting winter wheat, said Justin Lewis, vice-president of KIS Futures Inc in Oklahoma City.
CBOT December corn was down 3-1/4 cents or 0.5 percent at $6.88-3/4 a bushel, quickly paring losses after talk of Chinese demand. November soyabeans gave up 20-3/4 cents or 1.6 percent to $13.34-1/2 a bushel and touched the weakest price since August 10.
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