The U.S. maize and wheat futures declined further on Wednesday amid the biggest one-day loss for crude oil in 17 years and favourable crop weather conditions. The price of oil dropped by more than $6 on Tuesday, after a growing concern that energy demand would slow in the US, following news of a bleak economic outlook. Maize futures on the CBOT for September delivery slipped to around $255.22/t on Tuesday.
Meanwhile, soybean prices rebounded from Tuesday's decline with low inventories supporting the market. In the latest USDA report opening soyabean stocks for 2008/09 were revised down from around 4.76Mt to 3.8Mt. The price of soyabeans on the CBOT for August delivery was at $566/t on Tuesday. | 
