Soybean and corn declined on Tuesday after the falling equity markets and credit market losses prompted investment funds to raise cash by selling commodities.

Soybean for May delivery declined by 3 percent or 38.75 cents, to $12.64 a bushel on the Chicago Board of Trade.

Soybean oil for May delivery dropped by 2.8 percent, or 1.64 cents, to 56.92 cents a pound.

Soybean oil futures have increased by 84 percent this year, reaching 72.69 cents on March 4 boosted by demand for bio-fuels and cooking oil.

U.S. shares fell yesterday amid concerns that the Federal Reserve won't be able to stop credit losses from spreading after the fall of investment bank, Bear Stearns.

Corn for May delivery in Chicago fell by 0.8 percent, or 4.25 cents, to $5.35 a bushel.

Wheat for May delivery increased by 1.1 percent, or 12.25 cents, to $11.4375 a bushel.

Wheat futures reached a record of $13.495 on Feb. 27 and have more than doubled this year due to an increase in demand for the grain coupled with severe weather conditions that affected global production.