Soybeans Drop as Slowing World Economy Curbs Demand; Corn Falls
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Soybeans fell to a three-week low after a government report showed a drop in overseas demand for supplies from the U.S., the world’s biggest exporter. Corn declined.
Sales of soybeans in the week ended Nov. 1 plunged 75 percent from a week earlier and corn sales dropped 6.1 percent, the U.S. Department of Agriculture said today. The dollar rose to a two-month high against a basket of six currencies after European Central Bank President Mario Draghi said growth will stay weak. A stronger dollar erodes the appeal of commodities.