DesMoines Register – Corn traders went on a selling binge Thursday, panicked by reports that investment funds are abandoning grain markets. The price of corn fell 29 cents – nearly the 30-cent daily limit – to $7.23 on the Chicago Board of Trade.
Soybeans dropped 27 cents per bushel to $13.50. Market watchers said the floor was shaken by reports that some hedge funds had exited the market amid worries that corn prices above $7 a bushel are unsustainable.
