Corn and soybean prices fell sharply as United States corn exports continued to decline.

The US provides half of the world's corn exports, so what happens there has a disproportionate effect on food prices, which are already near record levels.

So while soybeans have been largely unaffected by the moratorium, corn exports have been harmed.

The Agriculture Department said corn exports were running 4 percent lower so far this crop year compared with the period in 2000.

That, and discoveries in other foods, set off food recalls and depressed American corn exports.

In 2004, 22% of U.S. wheat exports, 71% of corn exports, and 65% of soybean exports passed through Gulf ports.

Among them was Senator Jim Exon, a Nebraska Democrat who voted against the legislation last summer because he feared that China might retaliate against American corn exports.

Eventually, experts say, American corn exports could fall.

Even before approvals stopped, Europe accounted for only 4 percent of American corn exports.

Wheat shipments slumped $104 million, and corn exports fell $54 million.