CBOT corn ends flat on dull demand, good US harvest weather

• CBOT December corn settled 1/4 cent lower at $3.87-3/4 per bushel after hitting a 1-1/2 week low of $3.84 during the session.
• Sluggish export demand amid stiff competition from low-cost suppliers around the world kept a lid on corn prices.

CHICAGO: Chicago Board of Trade corn futures ended near unchanged on Wednesday, with prices capped by weak demand and rising supplies from an accelerating US harvest, traders said.

CBOT December corn settled 1/4 cent lower at $3.87-3/4 per bushel after hitting a 1-1/2 week low of $3.84 during the session. The contract ended near its 20-day moving average.

Although harvesting was well behind the normal pace, forecasts for drier weather around the US Midwest over the next two weeks weighed down corn prices.

Sluggish export demand amid stiff competition from low-cost suppliers around the world kept a lid on corn prices.

The US Energy Information Administration said US ethanol production rose by 25,000 barrels per day last week while stocks of the biofuel declined by 697,000 barrels.