Markets

CBOT corn ends down on slow US export sales

CHICAGO : Chicago Board of Trade corn futures closed lower on Friday on slow US exports and concern about the fate of
Published Updated

* Showers early next week will slow the final harvest of corn in Ohio and crop-friendly rains are expected next week in the Plains hard red winter wheat belt. Overall satisfactory weather for seeding and development of corn and soy in South America.

* The trustee liquidating MF Global Holdings Ltd's broker-dealer unit won court permission to distribute $520 million of cash to customers, providing relief to customers whose accounts have been frozen since the futures brokerage went bankrupt.

* South Korea's largest feedmaker Nonghyup Feed (NOFI) purchased 55,000 tonnes of feed wheat in a tender on Friday and 125,000 tonnes of corn, including 70,000 tonnes of corn from the US, European traders said.

* China expects domestic corn prices to remain mostly stable as both the government and state-owned grain companies start to stockpile corn following a bumper harvest, the State Grain Administration said on Friday.

* December below all key moving averages. The nine-day RSI was at 29. 1:20 PM CST

Copyright Reuters, 2011