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Cotton, Wheat Prices Tumble On Wednesday

4/4/2012 2:41 PM ET

Agricultural commodities prices were mixed Wednesday, with wheat and cotton trimming recent gains on concerns about big plantings.

The May wheat contract dropped 18.6 cents to $6.392 a bushel, trimming big gains from the past two sessions.

July cotton was plunged 3.54 cents to 89.16 cents per lb on the Chicago Board of trade, as traders weighed Friday's news that U.S. farmers were planning big crops.

May corn slipped 1.4 cents to $6.566 a bushel on the Chicago Board of Trade. Last Friday, government estimates showed that farmers intend to plant the most corn in more than seven decades.

Meanwhile, May soybeans rose 2.6 cents to $14.194 a bushel -- edging back toward their highest in six months.

by RTT Staff Writer

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