Corn eases on global demand uncertainty

CHICAGO: Chicago Board of Trade corn futures slipped on Wednesday, following outside energy markets lower on renewed coronavirus precautions as the Delta variant raised concerns about a return to restrictions that could limit demand, analysts said.

CBOT September corn fell 4-3/4 cents to $5.45-3/4 per bushel and most-active December lost 5 cents to settle at $5.46-3/4.

Commodity brokerage StoneX on Tuesday projected US 2021 corn production at 14.945 billion bushels, with an average yield of 176.9 bushels per acre (bpa).

Brazilian corn exports are expected to plunge in August to around 3 million tonnes, according to ship line-up data from maritime agency Cargonave and projections by grain exporters association Anec.