Corn dropped to the lowest in four years as rising production from the U.S. to Europe is expected to boost global supplies, negating concerns that turmoil in Ukraine may disrupt shipments from the Black Sea region.
Soybeans extended the biggest slump in five years to the lowest since December 2011 after a U.S. report that showed the country’s farmers will plant more than ever of the oilseed. Corn dropped to a five-month low.
This was no small fraud. Coming on the heels in the MF Global debacle, it threatened the entire futures industry structure. One fraud and violation of customers segregated funds is an anomaly, two might be considered a trend.