CHICAGO, May 9 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled sharply lower on Thursday due to downbeat export data and trade tensions.
The most active corn contract for July delivery was down 11 cents, or 3.02 percent, to 3.5325 U.S. dollars per bushel. July wheat was down 9.5 cents, or 2.16 percent, to 4.295 dollars per bushel. July soybeans were down 14.5 cents, or 1.75 percent, to 8.1275 dollars per bushel.
The U.S. Department of Agriculture (USDA) on Thursday released its weekly export report for the period of April 26-May 2, showing downbeat statistics.
U.S. exporters reported net corn sales of 287,600 metric tons, a weekly new low for 2018/19 market year. The export sales were down 51 percent from the previous week and 60 percent from the prior four-week average.
Net wheat sales were pegged at 90,600 metric tons for delivery in 2018/19, also a market year low. The export volume was down 26 percent from the previous week and 68 percent from the prior four-week average.
As for soybeans, export sales were also unsatisfactory, dragged down by large cancellations of 263,500 metric tons for unknown destinations.
Trade tensions between the United States and the world's top oil seed buyer China have put more pressure on CBOT soybeans, said market watchers.
As a result, spot soybeans have even fallen below 8.00 U.S. dollars per bushel, the first time since late 2008, according to AgResource, an agricultural research firm based in Chicago.
