Corn prices fall nearly one percent in American trade

Corn futures fell nearly one percent in American trade as the dollar index rose according to their inverse relation, which follows earlier data from the U.S., the world's largest corn producer and exporter.
 
As of 08:08 GMT, corn futures due on May 16 fell 0.79% to $377.75 a bushel from the opening of $380.75, with an intraday low at $376.50, and a high at $383.00, while the dollar index rose 0.17% to 101.71 from the opening of 101.46.
 
Earlier U.S. data showed factory orders rose 1.2% in January, besting expectations of a 1.1%  rise, but slowing down from December's 1.3% rise, while investors now await Federal Reserve Bank of Minneapolis President Neel Kashkari, who is due to speak at the National Association of Business Economics, in Washington DC.

Last Friday, Fed Chair Janet Yellen paved the way for a rate hike in the bank's March 14-15 meeting, at which policymakers will reveal their three-year forecasts for growth, unemployment, inflation, and interest rates.