Corn closes at 2-week low

Corn prices fell on Thursday, as the US dollar rallied against its peers, amid mounting fears about the coronavirus, which weighs down on demand.

Climate improved in several countries, such as the US, Russia, and Brazil, which improves crop quality and increase supply, and pushes prices down.

The US Department of Agriculture reported selling 2.244 million tonnes of corn last week, beating forecasts of between 700K and 1.5 million tonnes.

The dollar index rose against a basket of currencies by 0.7% to 94.03 points as of 21:56 GMT, after it hit a high of 94.1 and a low of 93.3.

Corn December futures fell 1.1% to close at a 2-week low of $3.98 per bushel, after hitting a high of $4.04 and a low of $3.93.