CHICAGO: Corn futures on the Chicago Board of Trade closed lower on Thursday on disappointing weekly export sales data and pressure from the start of the US harvest, traders said.
CBOT December corn futures settled down 1-3/4 cents at $3.30 per bushel.
The US Department of Agriculture reported export sales of US corn in the week to Sept. 8 at 703,500 tonnes for 2016/17, below a range of trade expectations for 800,000 to 1,100,000 tonnes.
Traders noted anecdotal reports of some disappointing early yields in the US harvest, but producers had cut only 5 percent of the crop by Sunday and the USDA has projected record-large production.
Argentine farmers will plant 5.7 million hectares with corn in the 2016/17 season, up 18 percent from 2015/16, the Rosario grains exchange said in a monthly crop report.
The CBOT reported 35 corn deliveries against the expired September futures contract.
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