CBOT Closing Comments
U.S. grains fell sharply on Monday as investors bailed out in full force after lawmakers surprisingly rejected a $700 billion rescue plan for the financial sector.
There was a sell-off across commodities, with oil slumping 10 percent to $96 a barrel, and the Dow Jones industrial average suffering its largest ever one day drop.
Corn and soybean futures on the Chicago Board of Trade fell by their daily trading limit, with wheat not far behind.
CBOT December corn futures settled down 30 cents, or 5.5 percent, at $5.13 a bushel. November soybeans settled 70 cents, or 6 percent, lower at $10.94 a bushel, closing locked at the 70-cent daily trading band. December wheat fell on 48 cents, or 6.7 percent, at $6.68 a bushel.
There was a sell-off across commodities, with oil slumping 10 percent to $96 a barrel, and the Dow Jones industrial average suffering its largest ever one day drop.
Corn and soybean futures on the Chicago Board of Trade fell by their daily trading limit, with wheat not far behind.
CBOT December corn futures settled down 30 cents, or 5.5 percent, at $5.13 a bushel. November soybeans settled 70 cents, or 6 percent, lower at $10.94 a bushel, closing locked at the 70-cent daily trading band. December wheat fell on 48 cents, or 6.7 percent, at $6.68 a bushel.