CHICAGO: Chicago Board of Trade corn futures ended modestly lower Tuesday on technical selling and profit-taking after the most-active December contract reached a two-week high, traders said.
* CBOT December corn settled down 3/4 cent at $3.73-1/4 a bushel after rising to $3.74-1/2, its highest since Oct. 17.
* Trade was choppy as brokers adjusted positions ahead of the results of Tuesday’s US midterm elections and Thursday’s monthly supply/demand reports from the US Department of Agriculture.
* Ahead of the USDA data, analysts on average expect the government to lower its estimates of US 2018/19 corn yield, production and ending stocks.
* Late on Monday, the USDA said the US corn harvest was 76 percent complete, near the five-year average of 77 percent.
* North American farmers are finding increased levels of a plant toxin known as vomitoxin in this year’s corn harvest.
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Source: Brecorder
