The most active corn contract for December delivery fell 7.25 cents, or 1.1 percent, to settle at 6.5 U.S. dollars per bushel. December wheat plunged 24.25 cents, or 2.98 percent, to settle at 7.89 dollars per bushel. November soybean lost 25.75 cents, or 1.77 percent, to settle at 14.3125 dollars per bushel.
CBOT futures dropped following chaotic U.S. weekly export sales report as the U.S. Department of Agriculture changed website to release weekly export sales data.
CBOT values formed a trading peak Wednesday with the coming harvest to pressure values into mid-September. Corn has support on breaks while the start of Brazilian soybean seeding in a few weeks caps rallies amid the prospect of a record large harvest. Chicago-based research company AgResource sees a wide ranging CBOT market without a trend in the coming weeks.
U.S. weekly export sales for the week ending Aug. 18 were 15 million bushels of wheat, 12.6 million bushels of old and 6.1 million bushels of new crop corn, and 18.5 million bushels of old and 172.4 million bushels of new crop soybeans. The United States sold a massive 190.9 million bushels of soybeans last week, one of the largest weeks on record. China and unknowns were the big buyers.
For respective crop years to date, the United States has sold 339 million bushels of wheat, up 1 percent; 2,412 million bushels of old crop corn, down 13 percent; and 2,207 million bushels of old crop soybeans, down 3 percent.
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