Chicago Board of Trade (CBOT) grains closed lower on Thursday as a stronger dollar made U.S. commodities less competitive.
The most active corn contract for December delivery fell 0.5 cent, or 0.14 percent, to 3.505 dollars per bushel. December wheat delivery went down 3.75 cents, or 0.86 percent, to 4.3175 dollars per bushel. November soybeans lost 4.25 cents, or 0.44 percent to reach 9.7125 dollars per bushel.
The U.S. dollar soared more than one percent against a basket of other major currencies, lifted largely by a European Central Bank announcement earlier Thursday.
The central bank said that while it is to cut its bond purchases, its economic stimulus program will be extended until at least September 2018.
The measures prompted the devaluation of the euro by 1.2 percent against the U.S. dollar, boosting the competitiveness of euro zone exports, such as European wheat.
Meanwhile, the rise of dollar will make U.S. agricultural commodities less competitive in world market.
The U.S. Department of Agriculture released its weekly export sales report on Thursday, showing that soybean sales beat expectations, corn sales came in at the high end and wheat was within.
However, the upbeat export data failed to boost the prices of CBOT futures.
The most active corn contract for December delivery fell 0.5 cent, or 0.14 percent, to 3.505 dollars per bushel. December wheat delivery went down 3.75 cents, or 0.86 percent, to 4.3175 dollars per bushel. November soybeans lost 4.25 cents, or 0.44 percent to reach 9.7125 dollars per bushel.
The U.S. dollar soared more than one percent against a basket of other major currencies, lifted largely by a European Central Bank announcement earlier Thursday.
The central bank said that while it is to cut its bond purchases, its economic stimulus program will be extended until at least September 2018.
The measures prompted the devaluation of the euro by 1.2 percent against the U.S. dollar, boosting the competitiveness of euro zone exports, such as European wheat.
Meanwhile, the rise of dollar will make U.S. agricultural commodities less competitive in world market.
The U.S. Department of Agriculture released its weekly export sales report on Thursday, showing that soybean sales beat expectations, corn sales came in at the high end and wheat was within.
However, the upbeat export data failed to boost the prices of CBOT futures.
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