Corn futures at the Chicago Board of Trade sagged quietly early on Friday ahead of an expected active weekend for harvesting the US corn crop, traders said. At 10:24 am CDT (1524 GMT), CBOT corn was down 1/2 to 1 cent, with December down 3/4 at $2.03-1/2 per bushel.
Traders and analysts said the cumbersome supply of feed grains continues to limit attempts to rally corn futures prices, but some underlying support may have surfaced following news early Friday that US exporters sold 120,000 tonnes of corn to Egypt.
However, larger volumes of corn export sales are needed to boost prices and that scenario isn't likely to surface any time soon, the traders and analysts said.
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