Corn Falls on Concern Japan Disaster to Slash Commodity Demand
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Corn futures fell to a two-month low on concern that commodity demand will decline as Japan’s nuclear crisis escalates.
The Asian nation is struggling to control radiation leaking from a power plant damaged by the magnitude-9 earthquake and tsunami that struck on March 11, killing thousands. Japan is the world’s biggest corn buyer. On Feb. 22, the price in Chicago reached a 31-month high.