Special Report: Global Financial Crisis

    CHICAGO, March 5 (Xinhua) -- Grain futures in Chicago Board of Trade declined on Thursday, pressured by bearish outside markets and weak sale data.

    Corn future for May delivery fell 5 cents to 3.585 U.S. dollars a bushel. May soybean lost 16.5 cents to 8.52 dollars per bushel and May wheat was down 8 cents, settled on 5.15 dollars per bushel.

    The Dow Jones index plummeted 281 points to 6,594 points Thursday, the new lowest level in 12 years, indicating more gloomy prospects of the U.S. economy, which means the demand for grains may shrink further.

    The U.S. Department of Agriculture released its weekly export sales report for the week ending Feb. 26. Net sales of U.S. soybean exports were 156,000 metric tons, a market year low and well below analysts' estimates. Wheat exports were 285,000 metric tons, decreasing 39% from the previous week and also under trade estimates. The unexpectedly disappointed export sales put some pressure on soy and wheat.

    Only Corn did a good job with the exports above estimates at 792, 000 metric tons, which helped to limit its losses during the session.