Corn tumbles, palm oil's rival soya rises

Soybean futures rose to a three-week top on a tighter supply outlook by the USDA, rebounding from an earlier slump triggered by sinking corn futures. Wheat ended down even as the USDA slashed its global stocks view by far more than analysts expected.

CHICAGO: U.S. corn futures dropped on Tuesday after the U.S. Department of Agriculture (USDA) projected supplies of the grain above market expectations in a monthly report, taking prices down from 7-1/2 year highs posted earlier in the day.

Soybean futures rose to a three-week top on a tighter supply outlook by the USDA, rebounding from an earlier slump triggered by sinking corn futures. Wheat ended down even as the USDA slashed its global stocks view by far more than analysts expected.