CHICAGO, March 15 (UPI) -- Grain futures plunged Tuesday on the Chicago Board of Trade as equity and commodity markets continued to react to Friday's catastrophic earthquake in Japan.
Corn was off 30, soybeans were off 70, wheat was off 50 1/4 to off 53 and oats were off 15 1/2 to off 20.
Japan's 9-magnitude earthquake grew as a global concern on serious troubles at a nuclear power plant. Corn found support from a South Korean purchase of 55,000 metric tons, wheat futures dropped on global concerns and a U.S. Department of Agriculture report that noted improved conditions for winter wheat in the Central Plains. Soybean prices fell on concerns that China has held back on purchases lately.
The prices:
Corn: May 6.36 Jly 6.42 1/2, Sep 5.94, Dec 5.48 -- all off 30.
Soybeans: May 12.27, Jly 12.78, Aug 12.73 1/2, Sep 12.56 -- all off 70.
Wheat: May 6.67 3/4 off 53, Jly 7.00 1/2 off 52 1/2, Sep 7.37 3/4 off 51 3/4, Dec 7.64 1/4 off 5 1/4.
Oats: May 3.24 off 20, Jly 3.31 3/4, off 20, Sep 3.36 1/2 off 16 1/2, Dec 3.46 1/2 off 15 1/2.
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