Wheat rose 1.6 percent, while soybeans gained 0.6 percent in early Asian trade on bargain hunting after a steep selloff.

FUNDAMENTALS

* On Tuesday, corn futures at the Chicago Board of Trade ended at their maximum daily trading limit of 30 cents, or  4.5 percent, at $6.36 per bushel, the lowest close since Jan 12.

* Wheat fell 53 cents, or 7.35 percent, to $6.67-3/4. Soybeans shed 70 cents to settle at $12.70. Both delved  into prices last traded on Dec. 1.

* The Chicago Mercantile Exchange said it would expand limits for Wednesday's trade to 45 cents a bushel for corn, $1.05 for soybeans, 3.5 cents for soyoil, 30 cents for oats, 75 cents for rough rice. Wheat futures retained their limits of 60 cents.

* Japan raced to avert a catastrophe after fire broke out on Wednesday at a quake-crippled nuclear plant that has already sent low levels of radiation wafting into Tokyo and prompted some people to flee the capital.

* The prospects of a temporary reduction in Japanese grain purchases was also a negative. Japan is the world's biggest importer of corn and third-largest of soybeans, the main ingredients in animal feed.

* The world's No. 3 economy also is the fourth-biggest wheat importer and plans to buy 4.96 million tonnes of milling wheat in the year to March 31.

* The flow of soy, corn and other goods to Brazil's No. 2 port, Paranagua, continued at a near standstill on Tuesday after heavy rains over the weekend damaged the access road and railway.