US MIDDAY: wheat plunges

US wheat futures fell 2 percent early on Thursday as India's announcement that it will allow 2 million tonnes of wheat to be exported threatened to further weaken export prospects for the US grain, traders said. The front-month Chicago Board of Trade wheat futures contract fell to its lowest in 3-1/2 weeks on Thursday morning and CBOT corn hit its lowest since August 23.
At 11:21 am CDT (1721 GMT) Chicago Board of Trade December wheat futures were down 15-1/2 cents at $7.36 a bushel. CBOT December corn was down 13-1/4 cents at $7.34-1/4 a bushel and CBOT November soyabeans were down 6-1/4 cents at $14.14-1/2 a bushel.