U.S. soybeans fell for a third consecutive session, while corn and wheat ticked lower, amid a broad-based weakness in financial markets which was triggered by escalating fears about Greece's political crisis.
There was obviously a heavy selloff last night, particularly in soybeans, and we are seeing a continued selloff in Asia on macroeconomic sentiment, said one commodity analyst, who declined to be named. There is also a slightly strong U.S. dollar which is driving down commodity prices.