U.S. corn and soybean futures fell sharply last week, pressured by outlooks for rain and cooler temperatures in the Midwest crop belt, as well as spillover weakness from broad-based selling in the commodities sector, Reuters reported.

“Front-month CBOT soybeans plunged 8.2% on Thursday for a drop of $1.18-3/4 per bushel, which I believe is the largest daily decline in history,” said Karen Braun of Reuters. “The contract has shed 15.8% in the last seven sessions. … Front-month soybean futures on Thursday dropped to their lowest levels since Jan....