The soybean CCI rating dropped below the five-year average for the first time this growing season.
December corn tumbles to three-month low on milder Midwest outlook, recession concern; beans and wheat also down sharply.
Cash wheat prices plunge.
Fed Chair Powell warns Fed's efforts to thwart inflation could trigger recession, U.N. working to facilitate Russian fertilizer exports and pork packers are cutting in the red...
New-crop corn drops near three-month low on improving weather, soybeans and wheat also lower.
Powell: Higher interest rates could cause a recession
Mounting recessionary concerns triggered heavy liquidation pressure in the grain and soy markets overnight.
But he acknowledged that a recession was 'certainly a possibility' given the global situation. Recessionary fears are building with economists.
Soybean basis continues its recent decline.
