Corn futures at the Chicago Board of Trade fell to new contract lows early on Thursday amid seasonal harvest pressure, prospects for a big corn crop and spillover technical selling after Wednesday's declines, traders said.
At 10 am CDT (1500 GMT), CBOT corn was unchanged to 1-1/2 cents per bushel lower. New-crop December was down 1-1/2 at $2.06-1/4. The new contract low for December is $2.05-3/4 per bushel, below the previous low of $2.06-1/4 that was set in the e-cbot overnight trading session.
Traders said the corn market was continuing to react to Monday's bearish USDA corn production number for 2005 US corn output.
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