CBOT corn ends narrowly mixed, monthly USDA data awaited

- Chicago Board of Trade corn futures ended narrowly mixed on Tuesday, consolidating a day after the benchmark July contract hit a life-of-contract low, traders said.

  • CBOT July corn CN26 settled up 3/4 cent at $4.19-1/2 per bushel while new-crop December corn CZ26 ended down 3/4 cent at $4.45-1/4 a bushel.

  • Continued export demand for U.S. corn lent support, along with a weaker dollar, which tends to make U.S. grains more competitive on the world market. USD/

  • The U.S. Department of Agriculture confirmed private sales of 120,000 metric tons of old-crop U.S. corn to undisclosed destinations.

  • But favorable weather hung over the market, capping rallies, as warm, showery conditions in the Corn Belt this week boosted crop production prospects.

  • The USDA left its weekly crop ratings unchanged for corn, with 67% of the crop in good to excellent condition. Analysts surveyed by Reuters on average had expected an improvement.

  • Traders awaited direction from a monthly supply and demand report due from the USDA on Thursday.