Is a 3% drop enough to qualify as "plunge" worthy?
In commodities, yeah.
From the Des Moines Register:
Both corn and soybeans are in full retreat today in Chicago, with corn down 23 cents per bushel to $7.15 and soybeans off 44 cents per bushel to $14.07, a four month low.Wheat $8.5875 down 3.13%.
Both corn and soybeans are down from their summer highs of $8.43 per bushel for corn and $17.88 for soybeans, prices reached during the summer peak of Midwest drought concerns.
But some of the concern has been eased by a better than expected harvest this fall. On Friday the U.S. Department of Agriculture said soybean production would be about 4 percent higher than its summer forecast....MORE
Corn $7.2225 down 2.66%
Beans $14.0725 down 3.03%