Corn drops; soybeans down

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    SINGAPORE- Chicago corn futures fell 1.4 percent on Thursday, dropping to their lowest level in more than two weeks, as a smaller-than-expected decline in stocks weighed on the market for a second session.

    Soybeans fell, while wheat slid for a second straight session.

    The most-active corn contract on the Chicago Board Of Trade fell 1.4 percent to $5.27 a bushel, after hitting its lowest level since Jan. 26 at $5.25 a bushel earlier in the session.

    Soybeans slipped 0.8 percent to $13.42-3/4 a bushel, after finishing down 3.4 percent in the previous session and wheat lost 0.4 percent at $6.33 a bushel, after ending 2.2 percent lower on Wednesday.

    There are no signs that China’s importers are going to add to their corn import binge, said Tobin Gorey, director of agricultural strategy at the Commonwealth bank of Australia. – Reuters