CBOT corn futures higher

CHICAGO: Chicago Board of Trade corn futures ended higher on Tuesday on slower-than-expected harvest progress across the US Midwest, traders said. CBOT December corn settled 3-1/2 cents higher at $4.01 per bushel.

The US Department of Agriculture said on Monday afternoon that the US corn harvest was 82% complete, ahead of the five-year average of 69%, but short of the average expectations in a Reuters poll of analysts. Private analytics firm IHS Markit Agribusiness, formerly known as IEG Vantage, cut its forecast of the average US 2020 corn yield to 175.7 bushels per acre (bpa), from 177.8 a month ago.—Reuters