Grain markets closed lower Thursday, with December corn down 5.5 cents at $4.42 1/2 and January soybeans down 11.75 cents at $12.19. Wheat contracts also fell sharply as the U.S. dollar index hit new 19-month highs.
Analysts noted corn export sales are running 34% behind last year and below USDA's target.
A stronger dollar makes U.S. grain less competitive abroad, and weak export sales raise the risk that USDA's export estimates are overstated. Lower prices may eventually stimulate demand, but the current market is pressured.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.