CBOT corn falls to 1-week low on US harvest, technical selling

CHICAGO: Chicago Board of Trade corn futures fell to the lowest levels in more than a week on Monday, declining in a technical selloff and on pressure from the US harvest, traders said.

Most-active CBOT December corn hit upside resistance near its 100-day moving average and found support near its 10-day moving average.

Corn also was pressured by a more than 2 percent drop in CBOT wheat futures, with US grain prices overall easing as a strong dollar made US commodities more expensive in some global markets.

Analysts polled by Reuters expected the US Department of Agriculture in a weekly report due at 3 p.m. CDT (2000 GMT) to show the US corn harvest at 60 percent complete, up from 46 percent last week.