Corn prices plunge again because of high supplies

The Associated Press

Corn prices are plunging for a second straight trading day, following a government report last week that corn supplies are higher than expected.

Corn skidded nearly 8 percent on Monday, down 53 cents to $6.4225 per bushel. That also pulled down wheat, which fell more than 3 percent, and soybeans, down 1 percent.

Benchmark oil for May delivery fell 16 cents to $97.07 per barrel in New York. It was the first decline since March 21.

Metals were mixed. June gold edged up $5.20 to $1,600.90 per ounce. May silver fell more than 1 percent, down 37.9 cents to $27.944 per ounce.