US grains fall on recession fears

PARIS/SINGAPORE, Sept 1 (Reuters): Chicago corn, wheat and soybeans slid on Thursday, as mounting concerns about a global economic slowdown pressured commodity markets, although losses were limited by hot weather conditions curbing U.S. and European crop prospects.

The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was down 1.3% at $6.62 a bushel, as of 1045 GMT. The contract was set for a third consecutive day of losses.

Soybeans Sv1 fell to $14.06-1/2 a bushel, losing 1.1% after three sessions of losses. Meanwhile, wheat Wv1 gave up 1% and traded at $8.23-1/4 a bushel.

Global markets are being weighed down by fears of recession, which dragged down stocks and commodities. European stocks slid and the dollar spiked on Thursday following concerns about aggressive rate hikes from global policymakers.

Oil prices also fell on increased supply and worries that the global economy could slow further with renewed restrictions to curb COVID-19 in China.