U.S. new-crop corn futures fell for the eighth consecutive session on Thursday to hover close to a contract low as favorable weather forecast add to expectations of a bumper crop, expected to be shown in U.S. government report later in the week.
* Chicago Board Of Trade December corn <CZ4> fell 0.38 percent to $3.96-1/2 a bushel, having slumped 1.55 percent in the previous session when the contract hit a all-time low of $3.95 a bushel.
* September wheat <WU4> unchanged at $5.51-1/4 a bushel, having closed down 0.9 percent on Wednesday.
* November soybeans <SX4> fell 0.11 percent to $11.02-1/2 a bushel, having slid 1.18 percent on Wednesday to hit a five-month low.
* U.S. Department of Agriculture report on Friday is expected to raise projections for autumn harvests of corn and soybeans.
* Asian grain importers are cutting back on purchases, hoping that prices will drop even further.
* USDA is expected to report U.S. corn export sales last week on Thursday totalled between 600,000 to 1.05 million tonnes, wheat export sales of 400,000 to 635,000 tonnes, and soybean sales of 200,000 to 600,000 tonnes, analysts said.
MARKET NEWS
* The dollar started at one-week lows against a basket of major currencies on Thursday, coming under some pressure after minutes of the Federal Reserve's June meeting gave no clear indication on when interest rates will rise.
* Oil prices fell on Wednesday, with U.S. crude down more than $1 a barrel on faltering demand for gasoline, and Brent down too as a Libyan oilfield resumed output.
* U.S. stocks finished higher on Wednesday, rebounding from a sharp two-day selloff, after minutes from the last Federal Reserve meeting showed policymakers have started to detail how the central bank will end its easy monetary policy.
