Corn Watch: CBOT Corn Called Flat to 1/2 U.S. Cent Lower.

Resource News International, November, 2004

Winnipeg, MB, Nov 09, 2004 (Resource News International via COMTEX)

Corn futures at the Chicago Board of Trade (CBOT) are seen starting Tuesday's session flat to 1/2 U.S. cent lower. Harvest pressure continues to weigh on the market amid a lack of fresh news.

The CBOT December corn future finished Monday's trading session down 1 1/2 U.S. cents at U.S.$1.98. The December contract ended the day near the session low as the U.S. corn harvest nears completion.

With the U.S. dollar currently in the doldrums and an abundance of U.S. corn with nowhere to go, the market is expecting that cash sales will pick up over the near-term.

The USDA is scheduled to release its latest production report on November 12. One analyst said it is expected that...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.