US corn futures close lower

Chicago Board of Trade corn futures ended weaker on Wednesday on profit-taking, a firm dollar and unwinding of corn/soyabean spreads. A firm dollar, lower crude oil and falling equities was limiting buying interest in corn futures. US corn export premiums at the Gulf Coast were steady to higher late on Tuesday, supported by solid demand for old-crop grain, traders said.
South Korea's largest feedmaker Nonghyup Feed (NOFI) is seeking up to 140,000 tonnes of corn for feed production for arrivals in August, traders said on Wednesday. The company on Tuesday bought 118,000 tonnes of US corn, US traders said. The July/December was at $1.08-3/4. The December corn/November soyabean ratio was 2.54.