CHICAGO: Chicago Board of Trade corn futures ended narrowly mixed on Tuesday, with front-month May corn lower on technical selling, sluggish export demand and ample US supplies, traders said.
CBOT May corn settled down 1/4 cent at $3.71-1/4 per bushel while new-crop December rose 1/2 cent to $3.95-1/4.
Commodity funds hold a near record-large net short position in CBOT corn futures, leaving the market vulnerable to bouts of short-covering, especially ahead of planting season in the US Midwest.
Corn futures drew underlying support from concerns about flooding and a heavy snow pack in the northwestern US Corn Belt, conditions that could delay spring planting and possibly shift some acres intended for corn to soybeans.
Data from Ukraine's agriculture ministry data showed the country's corn sowing area rising to 4.63 million hectares in 2019, from 4.58 million hectares in 2018.
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