U.S. agricultural futures fall

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CHICAGO, March 30 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures fell across the board on Tuesday, led by wheat.

The most active corn contract for May delivery fell 7.5 cents, or 1.37 percent, to settle at 5.3925 U.S. dollars per bushel. May wheat plunged 15 cents, or 2.43 percent, to settle at 6.0175 dollars per bushel. May soybean lost 26.25 cents, or 1.88 percent, to close at 13.6675 dollars per bushel.

Moderate trade volume helped exacerbate the downward slide as fund managers take off length heading into the end of the quarter and the U.S. Department of Agriculture (USDA) March Crop Report. But cash markets held firm, Chicago-based research company AgResource noted.

AgResource holds that nothing has changed fundamentally. The CBOT break is about money and order flow amid a stronger U.S. dollar.

Brazil's CONAB will be conducting its first stocks survey between April 5 and 23 on domestic food stocks of rice, coffee, and wheat.

Weather forecast offers showers for Central Brazil. The showers are slated to drop from April 8 to 10. Until then, rainfall in Central Brazil will be limited to a few lite showers. A generally dry trend holds across Argentina.

AgResource holds that the structure of the bull market has not changed amid record large U.S. corn/soybean demand. If the USDA does not uncover larger March U.S. stocks, a quick snapback in price will develop. Enditem

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