CHICAGO: Chicago Board of Trade corn futures ended modestly higher on Wednesday on bargain-buying after several contracts, including benchmark December, fell to life-of-contract lows.
CBOT December corn settled up 3/4 cent at $3.38-1/4 a bushel after dipping to $3.37, a contract low and the lowest price for a most-active corn contract in a year.
Ample grain supplies hang over the market, capping rallies, as the harvest of a bumper US crop winds down.
Ahead of the US Department of Agriculture’s weekly export sales report on Thursday, analysts surveyed by Reuters expected the government to report US corn sales at 1.2 million to 1.7 million tonnes.
China’s pig herd shrank in October by the most in close to two years, said the agriculture ministry, amid a crackdown on farm pollution that has forced hundreds of thousands of farms to close in the past year.
Source: Brecorder.com
