Mild weather, big crops sink corn, soybeans: Podcast

Wheat markets lower as Japan and Korea balk after discovery of biotech variety.

Soybeans were leading the crop markets lower as the U.S. Department of Agriculture reported late on Monday that both corn and soybean crop conditions are doing well and are rapidly maturing. The soybeans had the largest losses, despite another export sale to China.

Wheat markets were lower. Japan and South Korea have temporarily suspended imports of some U.S. wheat varieties following the discovery of an unapproved biotech variety in a Washington field.