US soyabean futures fell more than 2 percent on Wednesday in their steepest slide in 1-1/2 months as rains in Argentina brought much-needed relief to drought-stressed crops in key production areas of the world's third-largest exporter of the oilseed, traders said.
Corn also retreated on the welcome precipitation, but declines were shallower than in soya as a larger share of the corn crop may be beyond repair following weeks of hot, dry weather across Argentina, the world's No. 2 corn supplier. Chicago Board of Trade March soyabeans fell 2.4 percent to $12.02 a bushel by 10:36 am CDT (1636 GMT) in the steepest decline since November 23. March corn lost 0.8 percent to $6.47 a bushel. CBOT March wheat dropped for the fifth time in six sessions, shedding 0.8 percent to $6.34-1/2 a bushel.