CHICAGO, Oct. 25 -- Chicago Board of Trade (CBOT) agricultural futures settled much lower on Thursday over another week of disappointing export sales.
The U.S. Department of Agriculture released its weekly export sales report, showing weaker performance for the period of Oct. 12-18.
U.S. exporters reported a total sale of 349,500 metric tons of corn, versus the trade estimate of between 400,000 and 750,000 metric tons.
Export sales of U.S. soybeans were at 212,700 metric tons, compared with trade expectations of between 300,000 and 700,000 metric tons.
Although the United States exported 442,600 metric tons of wheat, falling within the trade expectations of between 250,000 and 500,000 metric tons, the sales were still down 7 percent from the previous week and below the prior four-week average.
A strengthening U.S. dollar and favorable weather forecast for harvest of corn and soybean crops in the Midwest added more pressure to their prices, said market watchers.
The most active December corn was down 7.25 cents, or 1.97 percent, to close at 3.61 dollars per bushel. December wheat was down 12.25 cents, or 2.45 percent, to settle at 4.8725 dollars. November soybeans were down 8.5 cents, or 1 percent, to close at 8.4175 dollars per bushel.