CHICAGO: Chicago Board of Trade (CBOT) December corn futures fell more than 1 percent Tuesday and hit a one-week low, joining a broad sell-off in commodities led by crude oil futures, traders said.
* CBOT December corn settled down 4-3/4 cents at $3.66-1/2 per bushel after dipping to $3.65-1/2, the contract's lowest since Nov. 2.
* December corn fell through chart support at its 100-day moving average near $3.67 and neared its 50-day moving average near $3.65.
* US crude oil hit an 11-month low on worries about weakening global demand, oversupply and sell-offs across other asset classes, including equities.
* Corn sometimes tracks oil due to its role as the primary US feedstock for ethanol fuel.
* The 19-market Thomson Reuters/CoreCommodity Index was down 1.8 percent, hitting its lowest since December.
* Ahead of the US Department of Agriculture's weekly crop progress report, analysts surveyed by Reuters on average expected the government to report the US corn harvest as 87 percent complete.
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