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Markets

CBOT corn ends mostly lower on profit-taking

  • Traders were also exiting positions ahead of first notice day for deliveries against CBOT December futures contracts on Monday, Nov. 30.
  • Benchmark CBOT March corn settled down 3/4 cent at $4.32-1/2 per bushel, paring losses after trading as low as $4.23-1/4.
25 Nov 2020

CHICAGO: Chicago Board of Trade corn futures ended mostly lower on Tuesday, with the most-active nearby contracts declining on technical selling and profit-taking ahead of the US Thanksgiving holiday on Thursday, traders said.

Traders were also exiting positions ahead of first notice day for deliveries against CBOT December futures contracts on Monday, Nov. 30.

Benchmark CBOT March corn settled down 3/4 cent at $4.32-1/2 per bushel, paring losses after trading as low as $4.23-1/4.

A softer dollar lent underlying support, making US grains more competitive globally.

Traders continue to monitor crop weather in South America. Forecasts called for beneficial rains this week in portions of Brazil and Argentina, but uncertainty and worries about dryness continue to underpin the market.

Turkey's state grain board TMO provisionally bought an estimated 350,000 tonnes of corn in an international tender which closed on Tuesday, European traders said.