| From Guardian: U.S. grain and soybean futures fell sharply on Wednesday as traders locked in profits following strong rallies which pushed wheat and soybean prices to three-month highs during the past month.
Wheat futures dropped 4.7 percent during the trading session while corn futures were down 2.6 percent and soybeans were off 2.4 percent.
"There is the very, very widespread belief that we are overdone to the upside and overdue for a correction," said Vic Lespinasse, analyst for GrainAnalyst.com. "We have had a huge rally in wheat, corn, beans, everything.".... Full Article: Source
|