Corn prices shed nearly one percent before the weekend

Corn prices fell nearly one percent in American trade as the dollar index rose according to their inverse relation, which follows a spate of data from the U.S., the world's largest corn producer and exporter.
 
As of 08:10 GMT, corn futures due on March 16 fell 0.97% to $357.75 a bushel from the opening of $361.25, with an intraday low at $356.75. and a high at $362.50, while the dollar index rose 0.75% to 102.28 from the opening of 101.54.
 
Earlier U.S. data showed non-farm payrolls rising 145 thousand in December, down from 178K in November, and missing expectations of 175K, while the unemployment rate rose to 4.7% from 4.6% in the previous reading, matching expectations, while average hourly earnings jumped 0.4%, compared to November's 0.1% dip, and expectations of a 0.3% rise.

Factory orders fell 2.4% in November, compared to October's 2.8% rise, while missing expectations of a 2.1% fall.
 
Similarly, Fed Chicago President Charles Evans participated in a panel discussion titled "Responders of First or Last Resort: Central Bank Strategies in an Era of Ultra-Low Interest Rates" at the American Economic Association Annual Meeting, in Chicago, expressing in it his optimism regarding the country's economic growth, and saying the economic conditions pave the way for just two more 0.25% rate hikes this year and not three as forecast, while expecting growth to range from 2% to 2.5% this year, with inflation taking its time before reaching the Federal Reserve's 2% target, adding that the global economic growth is still reflecting a state of uncertainty, with potential risks still looming.