COM - Chicago grain futures fall hard on recession speculation

U.S. corn, wheat and soybean futures all fell sharply on Thursday, capping a rough week of sharp declines as fund traders pulled back from sizable long positions in grains on worries about an economic downturn, according to Dow Jones. CBOT corn (C_1:COM) for December delivery settled -5.5% to $6.55 1/2 per bushel, nearly $0.94 below last Friday's high and down more than 10% so far this week, and September wheat (W_1:COM) closed -4% to $9.49 1/4 per bushel, tumbling at one point to its lowest since May 1, placing the most-active corn and wheat contracts at their lowest close since late February, before Russia's invasion of Ukraine sent futures soaring. Also, July soybeans (S_1:COM) ended -3.6% to $15.93 1/4 a bushel. ETFs: (NYSEARCA:CORN), (NYSEARCA:WEAT), (NYSEARCA:SOYB) The recent weakness is due to "a combination of lack of any significant weather issues, general commodity liquidation over fears of slowing economies and that

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Chicago grain futures fall hard on recession speculation