Grains futures sank Wednesday on the Chicago Board of Trade. Speculators rushed to sell off contracts because of signs that weather changes will result in a healthier and bigger crop. Prices drop on the prospect of a larger supply of grains.
Wheat for September delivery slid 32.25 cents to $6.7325 a bushel; December corn tumbled 30 cents to $6.5025 a bushel; December oats dropped 6 cents to $3.65 a bushel; while November soybeans fell 17.25 cents to $13.325 a bushel.
Meanwhile, beef and pork futures traded mixed on the Chicago Mercantile Exchange.
August live cattle dropped 1.45 cent to $1.1170 a pound; August feeder cattle gained 0.18 cent to $1.38 a pound; August lean hogs shed 0.65 cent to 97.32 cents a pound; while August pork bellies were unchanged at $1.065 a pound.