CHICAGO: Chicago Board of Trade corn futures closed lower on Wednesday, pressured by bearish corn stocks data in USDA's October crop production report,
* USDA's October crop report pegged 2011 US corn production at 12.433 billion bushels, below an average of analysts' estimates for 12.471 billion and below the USDA forecast in September for 12.497 billion.
* USDA forecast 2011-12 US corn ending stocks at 866 million bushels, above an average of analysts' estimates for 806 million and up from USDA's September estimate of 672 million.
* China booked purchases of about 1.5 million tonnes of corn on Tuesday, with the supplies coming from either the United States or Argentina, for state reserves, traders said.
* Showers at midweek will slow down the harvesting of corn and soybeans in the US Midwest, but the delays will be short-lived -- agricultural meteorologist.
* USDA late on Tuesday said 33 percent of the US corn crop had been harvested, up from 21 percent a week ago and up from the 32 percent five-year average.
* December 200 day moving average $6.45-3/4 and nine-day RSI at 54.
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