Corn Watch: CBOT Corn Called 1 to 4 U.S. Cents Lower.

Resource News International, November, 2004

Winnipeg, MB, Nov 12, 2004 (Resource News International via COMTEX)

Corn futures at the Chicago Board of Trade (CBOT) are seen starting Friday's session 1 to 4 U.S. cents lower. A bearish USDA crop production report was expected to weigh heavily on the market early Friday. A weaker-than- expected USDA weekly corn export sales report was also seen as a bearish influence.

The CBOT December corn future finished Thursday's trading session down 1 U.S. cent at U.S.$1.97 1/4. Activity was quiet ahead of Friday's USDA production report. Prices ended the session at a fresh contract low close.

The USDA increased its 2004/05 corn production estimate to 11.74 billion bushels in November, up from 11.67 billion bushels in October and the 2003 record U.S....

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