CBOT corn futures fall

CHICAGO: Chicago Board of Trade corn futures fell on Wednesday in a setback from a rally the previous session, when the grain rose to the highest level in more than a year.

CBOT December corn ended 5-3/4 cents lower at $4.17-1/4 per bushel.

The most-active contract retreated after touching a high of $4.28, the loftiest level since July 26, 2019.

Traders took some profits but continued to focus on supply/demand data the US Department of Agriculture issued in a monthly report on Tuesday.

The USDA cut its 2020/21 US corn yield and harvest outlook, raised exports and slashed ending stocks to the lowest level in seven years.

The USDA also nearly doubled its corn import outlook for China.—Reuters