March 15 (Bloomberg) -- Wheat, corn and soybeans fell in Chicago as a stronger dollar made U.S. crops less attractive to importers and investors. The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, advanced as much as 0.4 percent after three days of losses on concern sovereign credit ratings will deteriorate. Gains by the dollar make crops priced in the currency more expensive for holders of other monies. “The U.S. dollar could push them a little bit lower today,” Peter McGuire, managing director at CWA Global Markets Pty, said by telephone from Sydney, referring to wheat, corn and soybean prices. Wheat for May delivery dropped 0.3 percent to $4.8375 a bushel on the Chicago Board of Trade at 11:55 a.m. Paris time, rebounding from a slide of as much as 0.6 percent. Corn for May delivery fell 0.3 percent to $3.6325 a bushel, the eighth decline in a row. Wheat also retreated on falling U.S. exports. Outbound shipments slid to 56 million bushels in December from 70.6 million bushels a month earlier, the U.S. Department of Agriculture said March 12. The competitiveness of U.S. exports is “the bearish news” for grain markets, economist Dennis Gartman said in his daily newsletter. Soybean Demand Milling wheat for May delivery traded on NYSE Liffe in Paris rose 0.2 percent to 122 euros ($167.38) a metric ton. That compares with $177.75 a ton for Chicago wheat. Soybeans may decline below $9 a bushel for the time since October as China, the world’s biggest importer, might switch more cargoes from the U.S. to South America, according to a separate Bloomberg survey. Prices may decline next month as more cancellations might be reported, according to nine of 10 traders and researchers contacted in China for the survey. A net purchase of 192,400 tons of U.S. soybeans from China was canceled in the week through March 4, the Department of Agriculture said last week. Corn Sowing “This is going to be a great issue,” CWA’s McGuire said. Heavy rainfall in late March, April and May 2009 that delayed planting and “created all sorts of headaches” may reoccur, he said. Futures advanced to a high of $4.7175 a bushel in June last year after excessive rains in the Midwest, the largest U.S. producing region, delayed planting and raised concern yields may drop and farmers might shift acres to soybeans. The USDA’s estimate for record production of 334 million tons may be cut by about 7 million tons after bad weather delayed the harvest, Societe Generale SA said in a report. Corn may average $4.09 a bushel in the 12 months ending in September, the bank said. --With assistance from Rudy Ruitenberg in Paris, Terry Barrett in Washington, Jeff Wilson in Chicago and William Bi in Beijing. Editors: Wendy Pugh, Ravil Shirodkar

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