CHICAGO, July 1 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures fell sharply on Monday, with wheat plunging almost 3 percent as U.S. farmers have started to harvest in full swing.

The most active corn contract for December delivery was down 9 cents, or 2.09 percent at 4.225 U.S. dollars per bushel. September wheat was down 15.5 cents, or 2.94 percent to 5.1175 dollars per bushel. November soybeans were down 14.5 cents, or 1.57 percent to 9.085 dollars per bushel.

Recent dry weather has allowed U.S. wheat producers to go into fields, and the winter wheat harvest is in full swing. With more supplies expected to be brought into the wheat marketplace, CBOT wheat futures extended losses, following a more than 3 percent plunge last Friday.

The Department of Agriculture last Friday reported that U.S. farmers seeded 91.7 million acres of corn and 80 million acres of soybeans, lower that March forecasts of 92.8 million corn acres and 84.6 million soybean acres.

However, the updated acreage report failed to boost CBOT corn and soybean futures on Monday.

"Corn was much lower that you would see a bear surprise really hurt the futures and it's absolutely sparking a follow-through selling right now, and I think that was pulling those soybeans a little bit lower as well," said Virginia McGathey, market analyst with McGathey Commodities. Enditem

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