CBOT corn ends slightly firmer, extends rebound from recent lows
Chicago Board of Trade corn futures ended slightly higher on Tuesday on short covering and technical buying, traders said.
The market extended a modest rebound after prices on Monday rose from contract lows.
Expectations for a large U.S. harvest and largely favorable crop weather continued to loom over the market, traders said.
U.S. crop conditions held steady at 74% good to excellent in a weekly U.S. Department of Agriculture report issued after trading ended on Monday. That was in line with analysts' estimates and the highest for this time of year since 2016, according to USDA data.
The USDA said last week the U.S. corn supply will shrink to its lowest in four years ahead of what is expected to be a record autumn harvest.
New-crop CBOT December corn (CZ25) ended 1-3/4 cents stronger at $4.19-3/4 a bushel.
