CHICAGO: Chicago Board of Trade corn futures fell for a fourth day and hit a 2-1/2 month low on Friday on long liquidation tied to worries about the global economy, traders said.
* Investors were still reeling from the US Federal Reserve statement on Wednesday that there were "significant downside risks to the economy."
* CBOT corn posted its fourth straight weekly decline, falling 7.4 percent, its biggest weekly drop since mid-June.
* December corn dipped below key support at its 200-day moving average near $6.40 ahead of the closing bell, posting a session low of $6.38.
* Informa Economics said it expected US farmers to plant 94.3 million acres of corn in 2012, the most since World War II.
* Informa also estimated 2011 US corn planted acreage at 91.862 million acres, down 420,000 from USDA's current figure, and lowered its forecast of US 2011 corn production to 12.620 billion bushels, down from 12.711 billion on Sept. 6 but above USDA's current forecast of 12.497 billion.
* China's corn processors, hit by tight supply, look for options.
* Dry weather in Argentina has dimmed the outlook for 2011/12 wheat output although rains in recent days have allowed progress on delayed corn sowing, the government and a grains exchange said on Thursday. 1:31 PM CDT
Copyright Reuters, 2011
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