Corn and soybean futures were lower near midday Thursday as they retreated from recent gains. The declines came despite better-than-expected weekly export sales for corn and soybeans. The lower soybean oil market also may be weighing on soybeans.
The strong dollar may have played a role in the selling, as the currency rose to a seven-month high Thursday after Europe’s Central Bank hinted that it may introduce another economic stimulus plan.
Bob Burgdorfer of Farm Futures reporting. Farm Futures is a sister publication of Feedstuffs.