Chicago Board of Trade corn futures faltered on Wednesday, with December making a contract low for the ninth straight session on US harvest pressure and reports of excellent yields, brokers said.
Corn futures were down 3/4 cent to 2 cents, with December down 2 cents at $2.10-3/4 per bushel, a new low. Commodity funds had sold at least 2,500 lots by midday, with Rand Financial selling at least 1,000 December and Caylon Financial selling 500 December, brokers said.
Expectations that US farmers will harvest a record corn crop of nearly 11.0 billion bushels and good harvest progress were the main bearish factor for futures on Monday, brokers said.
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