Chicago Board of Trade corn futures fell 1.7% to a 10-day low on Monday, weighed by concerns about the spread of coronavirus in China that threatened to dent the global economy, traders said. The benchmark CBOT March corn futures contract fell below its 40-day and 50-day moving averages. It also briefly dropped below the low end of its 20-day Bollinger range but closed above that key technical point.
Weekly corn export inspections totaled 668,559 tonnes, according to US Agriculture Department data. That was up from 396,613 tonnes in the prior week and in line with market forecasts that ranged from 500,000 tonnes to 900,000 tonnes.
Private exporters reported the sale of 111,252 tonnes of corn to Japan for delivery during the 2020/21 marketing year, the US Agriculture Department said.
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