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CHICAGO, Aug. 15 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures settled significantly lower for the second consecutive session as a weekly report indicated sharply declining export sales.

On Thursday, the most active soybean contract for November delivery was down 7.25 cents, or 0.83 percent to close at 8.7075 U.S. dollars per bushel. December wheat was down 3.75 cents, or 0.78 percent to 4.745 dollars per bushel. December corn was up 0.75 cent, or 0.2 percent to 3.71 dollars.

The U.S. Department of Agriculture (USDA) on Thursday released the export sales report for Aug. 2-8. The USDA confirmed net soybean reductions of 109,900 metric tons for the current marketing year. The sales were down noticeably from the previous week and from the prior four-week average.

As for wheat, the USDA pegged net weekly sales at 462,200 metric tons for current marketing year, down 5 percent from the previous week and 2 percent from the prior four-week average.

December corn has lost more than 11 percent since Monday, when the USDA surprisingly raised its estimates on corn production and ending stocks in an updated supply and demand report.

Short covering and bargain buying pushed up corn futures on Thursday, said market watchers.