Corn, wheat and soybeans fall in Chicago after hitting 8-year highs



Referential archive image of corn kernels in a container at the base of a conveyor screw on a farm in Buda, Illinois


© Reuters/Daniel Acker
Referential archive image of corn kernels in a container at the base of a conveyor screw on a farm in Buda, Illinois

Por Christopher Walljasper

CHICAGO, U.S., Apr 27 (Reuters) – Corn, wheat and soybean futures fell in Chicago on Tuesday after rising to eight-year highs on corn supply concerns as adverse weather threw in doubts about the harvest prospects in the main exporters, Brazil and the United States.

* The sharp decline in the weekly US wheat crop ratings also kept attention on weather risks for grain in the Northern Hemisphere.

* The most active corn contract on the Chicago Stock Exchange fell 3 cents to $ 6.5450 a bushel, after hitting $ 6.84, its highest since March 2013.

* Soybeans fell 19.75 cents to $ 15.1950 a bushel, after hitting a peak since October 2012 at $ 15.7475. Wheat lost 6.75 cents to $ 7.3275 a bushel, after earlier hitting its highest since February 2013 at $ 7.6950.

* Brazil’s upcoming second maize crop is seen as crucial to replenishing tight global stocks, although weather forecasts show little rain for dry southern regions in the coming week.

* Plantings in the United States have been delayed by low temperatures, although the pace is expected to accelerate in the coming weeks.

(Edited in Spanish by Javier Leira)

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