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Chicago Board of Trade (CBOT) grains closed lower on Monday with soybean futures falling to their lowest in a month, pressured by improving crop weather in South America and chart-based selling.
Wheat fell in technical moves amid a lack of news, and corn fell but the lead December contract stayed in a narrow trading range, holding above last week’s contract low level.
The most active corn contract for December delivery went down 1.25 cents, or 0.36 percent, to 3.4225 dollars per bushel. December wheat delivery fell 7.25 cents, or 1.68 percent, to 4.2425 dollars per bushel. January soybeans dropped 12.75 cents, or 1.29 percent to 9.7425 dollars per bushel.
Weaker currencies of major grains exporters also make U.S. agricultural commodities more competitive. The Russian ruble has fallen to new lows for this move, and currencies in South America are down very slightly.