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Markets

CBOT corn steady; gains in wheat bullish, harvest outlook bearish

  • Traders said that gains in the wheat market lent support to corn.
  • A USDA report on Monday afternoon was expected to show that US corn harvest was 26% complete as of Oct. 4, up from 15% a week earlier.
Published October 6, 2020

CHICAGO: Chicago Board of Trade corn futures ended close to unchanged on Monday.

Traders said that gains in the wheat market lent support to corn.

But corn faced seasonal harvest pressure, with farmers expected to make good progress in the fields in the coming days due to forecasts for dry weather across much of the US Midwest.

A USDA report on Monday afternoon was expected to show that US corn harvest was 26% complete as of Oct. 4, up from 15% a week earlier.

Weekly corn export inspections totaled 863,995 tonnes, the US Agriculture Department said on Monday morning. That was in line with market forecasts.

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