U.S. corn slides 5 percent as dollar soars

By Sam Nelson CHICAGO (Reuters) - U.S. corn prices slid 5 percent on Friday, or as much as the daily trading limit, as the dollar soared to a 6-month high versus the euro and crude oil resumed its downward march after a brief respite this week. The whiplash in global markets kept nursing worries about non-U.S. economies slumping, fueling concerns that demand for U.S.-based grains and oilseeds might be waning. "You have outside markets slumping. There is more fund liquidation and, believe it or not, ... the world is awash in grain, so buyers are well supplied," said Paul Haugens, vice president of brokerage Newedge USA. "There's more grain than anyone knows what to do with right now," he added. The prices of soybeans and wheat traded on the Chicago Board of Trade fell 5 percent as well, with soy for delivery in the new-crop... [read full story]