Special Report: Global Financial Crisis

    CHICAGO, Feb. 17 (Xinhua) - Pressured by the weak outside market and improved weather conditions in Argentina, grain futures in Chicago Board of Trade plunged on Tuesday.

    Corn future for March delivery ended down 14 cents to 3.4925 U.S. dollars a bushel. March soybean lost 52.5 cents to its 8-weeklow of 9.03 dollars per bushel, and March wheat dropped 20 cents, settled on 5.155 dollars per bushel.

    Bearish pressure from the outside market weighed on grain futures during trading. Falling crude oil prices, collapsing stock market, a higher U.S. dollar, growing uncertainty and negative fears in the market over the U.S. and global economies forced corn, soybean and wheat to go down quickly.

    Weather conditions in crop areas threatened by continuous drought in Argentina are forecasted to be further improved in next few days, putting some pressure on corn and soy.