Soyabeans, which have provided support to the entire grain complex during the past few weeks, pushed corn and wheat to their intraday lows after retreating from their session high. "Corn and wheat have been shouldered by the strength in soyabeans for the past few sessions," said Dewey Strickler, president of AgWatch Market Advisors. At 10:41 am CST (1641 GMT), Chicago Board of Trade March corn futures were down 9 cents at $7.21-3/4 a bushel. CBOT January soyabeans were 1-1/4 cents lower at $14.94-3/4 a bushel and CBOT March wheat was off 8-1/2 cents at $8.05-1/2 a bushel.
The declines in soyabeans were limited by forecasts for low US stockpiles and worries about South American supplies. Soyabeans had gained 1.3 percent on Friday after data from the National Oilseed Processors Association showed US soyabean processors crushed 157.308 million bushels in November, the largest for the month since November 2009, and the biggest overall since January 2010.