Chicago wheat drops on stronger dollar

Chicago wheat fell on Monday as the strong dollar threatened to hamper US exports while expected increases in interest rates raise the prospect of world recession cutting demand.

Report informs, citing foreign media, that continued Ukrainian grain export shipments into world markets also burdened. Soybeans were underpinned by hopes of more Chinese buying and firm soymeal.

Chicago Board of Trade most active wheat fell 1.7% to $8.44-1/4 a bushel at 1206 GMT.

Soybeans rose 0.3% to $14.53 a bushel, corn fell 0.3% to $6.75-1/4 a bushel.