US corn futures fall 30 cents on CBOT

29 September 2008 22:08  [Source: ICIS news]

HOUSTON (ICIS news)--Corn futures plummeted on the Chicago Board of Trade (CBOT) on Monday, as all traded contracts fell 30 cents – the exchange’s maximum daily limit – in the midst of a burgeoning international economic crisis.

On a day where the Dow Jones Industrial Average was down more than 700 points and crude oil futures had fallen more than $10/bbl, corn for December delivery lost 30 cents to reach $5.13/bushel.

Corn prices have been particularly volatile in the past few months and have followed crude oil throughout the summer and into autumn.

Futures peaked in July near $8/bushel, influencing a broad array of chemicals ranging from ethanol to sorbitol.

Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels
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By: David Rosen
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