CHICAGO, Illinois – Slumping commodity prices are due, in part, to a belief the weather will be good enough to grow huge crops of grain this season.
Analysts believe the good weather will hold out here in the Midwest and that had speculators at the Chicago Board of Trade selling off farm futures.
A big crop of soybeans and corn would drive down prices.
Tuesday we saw corn, soybeans, and wheat futures all fall sharply.
Investors in Chicago are also worried about overseas markets like China which could start retreating on its rapid growth and demand for U.S. farm products.