CBOT corn ends lower on strong US yield reports

CHICAGO: Chicago Board of Trade corn futures ended lower Wednesday as better-than-expected anecdotal yield reports fueled expectations that the US Department of Agriculture might raise its US crop estimate later this month, traders said.

CBOT December corn settled down 1-1/4 cents at $3.48-1/4 per bushel, paring losses after dipping to $3.46, its lowest since Sept. 12.

Traders noted chart support at the contract low of $3.44-1/4, set on Aug. 31.

Ahead of the US Department of Agriculture's weekly export sales report on Thursday, analysts expected the government to report corn sales in the week to Sept. 28 at 500,000 to 700,000 tonnes.