CHICAGO - AP World News via NewsEdge Corporation : Wheat futures
fell for a second straight session Wednesday on the Chicago Board of
Trade, retrenching in a technical adjustment to the roaring rally of
Corn and soybeans shrugged off pressure from wheat to finish strongly
The correction in wheat prices was seen as overdue after prices had
soared well over the dlrs 4-a-bushel mark in recent days.
Market-watchers said many investors also moved to take profits amid
an uncertain outlook ahead of the government's September crop
report, due out Thursday.
Soybeans jumped to contract highs in a surge of speculative buying.
Corn advanced in spillover from the rally in soybeans.
The start of trading was delayed by five minutes as traders honored
the memory of Sept. 11 victims on the one-year anniversary of the
Wheat for December delivery fell 1 3/4 cent to dlrs 4.14 1/4 a bushel;
December corn rose 5 cents to dlrs 2.92 1/2 a bushel; December oats
rose 4 3/4 cents to dlrs 2.06 a bushel; November soybeans rose 11 1/2
cents to dlrs 5.88 3/4 a bushel.