Commodities
Grains Slide on Dollar Rally, Weak Export Sales
Corn futures fell 1.5 cents to $5.27.5 in December as profit-taking pressure and weak long liquidation increased, according to Pro Farmer's analysis. The market is at the lower boundary of its three-week-old trading range at elevated levels.
The weaker wheat and soybean futures prices today also limited buying interest in corn. A rally in the U.S. dollar index to a nearly three-month high was another bearish outside-market element for grains.
U.S. weekly corn export sales of 838,300 MT during the week ended Sept. 17 were just above analysts' range of pre-report estimates from 800,000 MT to 1.4 MMT.