Markets

CBOT corn drops on technical selling, wavering US-China trade hopes

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* CBOT March corn settled 5-3/4 cents lower at $3.76-1/4 per bushel. The contract breached chart support at its 20- and 50-day moving averages.

* US-China trade talks ended with a vow by China to buy "a significant amount" of US products, including corn, but there has been no evidence that any deals have been struck yet.

* Corn was also pressured by a higher Brazilian corn crop forecast by statistics agency Conab. Many traders had been expecting a reduced forecast following hot, dry weather in parts of Brazil.

Copyright Reuters, 2019