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Chicago corn, soybeans fall on bearish weekly export sales

Xinhua, November 6, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn, soybeans settled lower sharply on Thursday as an official report showed bearish weekly export sales.

The most active corn contract for December delivery fell 6 cents, or 1.58 percent, to settle at 3.745 U.S. dollars per bushel. January soybeans lost 20 cents, or 2.26 percent, to close at 8.64 dollars per bushel. December wheat delivery were unchanged at 5.2625 dollars per bushel.

Through the week of Oct. 29, U.S. exporters sold a net 556,000 tons for delivery in marketing year 2015/2016, down 22 percent from the previous week, showed the Weekly Export Sales Report released by the U.S. Department of Agriculture on Thursday.

The report said the wheat net sales were 84,600 tons, down 85 percent from the previous week.

In the meantime, soybeans net sales of 655,600 tons was a marketing-year low, the report said, adding that soybeans sales were down 69 percent from the previous week. Endit