BEIJING: Chicago soybeans and corn fell to multi-month lows on Thursday as favourable US Midwest weather boosted yield prospects for newly planted crops, while wheat fell as the winter harvest gathered pace.
The most-active soybean contract on the Chicago Board of Trade (CBOT) slipped 0.37percent to USD11.49-3/4 a bushel, the lowest in nearly two months, as of 0703 GMT. Corn eased 1.39percent to USD4.25-3/4 a bushel, its lowest level since February 20.
Wheat fell 0.64percent to USD5.83-1/2, also a nearly two-month low. All three major grain contracts were on track for a fifth consecutive session of losses. Forecasts of showers and mild temperatures across the US Midwest have helped alleviate concerns about dryness during a critical stage of corn and soybean development, according to Commodity Weather Group.
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