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CHICAGO: Chicago Board of Trade corn futures fell more than 1 percent on Monday, reversing from an earlier three-week high on technical selling and slow US export shipments, traders said.
Most-active CBOT March corn settled down 5-1/4 cents at $3.53-1/2 per bushel, finishing near its session lows and well off the session peak of $3.60-1/2.
The spot December contract, which is in delivery, ended 5-1/4 cents lower at $3.39-1/2.
The CME Group reported 1,270 deliveries against December corn futures.
Spreading also weighed on corn, with some investors selling corn and buying soybeans, analysts said.
The US Department of Agriculture said 586,213 tonnes of US corn was inspected for export last week, below estimates for 700,000 to 1 million tonnes.
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