CBOT corn futures slightly higher

CHICAGO: Chicago Board of Trade corn futures ended slightly higher on Tuesday as new export sales overpowered harvest pressure, traders said.

Most-active CBOT December corn ended up 2-1/4 cents at $3.91-1/4 per bushel.

Exporters reported 110,000 tonnes of new crop corn sales for delivery to Mexico, the US Department of Agriculture said.

US export inspections for the week ended Oct. 8 reported 632,184 tonnes of corn exported, 28% lower than the week prior, but up 32% from the same week last year.

Ukrainian agriculture consultancy APK-Inform has cut its forecast for the country’s 2020/21 grain harvest and exports due to poor weather, including trimming its corn harvest to 34.8 million tonnes and exports to 28.5 million tonnes of corn.—Reuters