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Markets

CBOT corn closes lower on technical weakness

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By Shoaib Ur RehmanReuters

CHICAGO: Chicago Board of Trade corn futures weakened for the second straight day on Thursday on technical pressure, traders said.

Plentiful global supplies continued to hang over the market.

Declines were kept in check as the benchmark CBOT March contract found support at its 20-day moving average.

Analysts were expecting a US Agriculture Department report on Friday morning to show that export sales of corn were in a range from 600,000 to 1 million tonnes in the latest reporting week.

 

Copyright Reuters, 2018
 

 

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