The most active corn contract for December delivery fell 2.75 cents, or 0.4 percent, to settle at 6.8225 U.S. dollars per bushel. December wheat lost 2 cents, or 0.24 percent, to settle at 8.385 dollars per bushel. January soybean rose 0.5 cents, or 0.04 percent, to settle at 13.935 dollars per bushel.
CBOT agricultural markets weakened amid disappointing corn export sales, U.S. dollar strength and concern over economic growth in emerging markets.
Markets have found equilibrium. Chicago-based research company AgResource suggests sales at the upper end of recently established ranges.
U.S. corn export sales through the week ending Oct. 20 totaled 10 million bushels, as against 16 million bushels in the previous week. U.S. corn export commitments as of mid-October account for 35-37 percent of annual shipments.
Wheat sales last week totaled 20 million bushels, as against 6 million bushels in the previous week, and were the largest since late August. Soybean sales were 38 million bushels, as against 86 million bushel in the previous week, but total commitments are in line with U.S. Department of Agriculture 2022-2023 forecast.
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