CHICAGO: Chicago Board of Trade corn futures ended higher on Tuesday on export demand, spillover strength from soybeans and expectations of a decline in weekly crop ratings, traders said.
CBOT December corn settled up 3-3/4 cents at $3.61-3/4 per bushel after hitting $3.63-1/2, its highest since August 31.
The US Department of Agriculture (USDA) said private exporters sold 101,600 tonnes of US corn to unknown destinations for delivery in the 2020/21 marketing year that began September 1.
Ahead of the USDA's weekly crop progress report due later on Tuesday, analysts surveyed by Reuters on average expected the government to rate 61% of the US corn crop in good to excellent condition, down from 62% a week ago.
Analysts also expect the USDA to lower its estimates of US corn production and average yield in monthly supply/demand reports set for release on Friday.
Forecasts called for frost this week in far-western Nebraska and parts of North Dakota and Minnesota, but meteorologists did not anticipate major crop damage.
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