CHICAGO, May 18 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures fell across the board on Wednesday, led by wheat.

       The most active corn contract for July delivery fell 19.25 cents, or 2.4 percent, to settle at 7.815 U.S. dollars per bushel. July wheat plunged 46.75 cents, or 3.66 percent, to settle at 12.3075 dollars per bushel. July soybean lost 15.25 cents, or 0.91 percent, to settle at 16.6275 dollars per bushel.

       CBOT agricultural futures were sharply lower on collapse in macro and energy markets. Wheat markets worldwide must reconcile heavily overbought chart pattern. As trade volume is mediocre, Chicago-based research company AgResource holds the fall is simply corrective in nature.

       There is no indication in cash markets that supplies are loosening. AgResource cautions of extreme volatility as the 2022 growing season begins in earnest, but stays bullish of long-term outlook for agricultural futures.

       U.S. exporters sold 100,000 metric tons of soybeans to unknown destination for old crop delivery and 219,000 metric tons for new crop delivery.

       U.S. ethanol production in the week ending May 13 totaled 291 million gallons, unchanged from the prior week and down 4 percent from mid-May a year ago. U.S. ethanol inventories remain large at 1 billion gallons, up 22 percent year on year.

       It will be wetter in the Central Plains and across the Midwest through the next two weeks. A rather active flow of moisture returns late in the coming weekend and persists into the opening days of June.