Corn futures ease on profit-taking

CHICAGO: Chicago Board of Trade corn futures eased on Friday, as worries over global demand - particularly in the short term - continued to weigh on the market amid China’s rising COVID-19 infections, traders said.

The benchmark CBOT March corn futures contract ended down 1 cent, settling at $6.78-1/2 a bushel. The CBOT’s most-active corn contract ended the year nearly 14.4% higher over 2022, underpinned by war disruption in Ukraine and dryness in Argentina that followed drought in Europe.

Agricultural markets, including grains and palm oil, jumped to all-time highs in March on adverse weather.