Corn futures at the Chicago Board of Trade were mixed early on Tuesday in consolidation trading, traders said. Traders said there was some profit-taking pressure after the strong gains on Monday that were led by fund buying.
However, there was a lack of aggressive selling amid the potential for more fund demand and on prospects for the supply of feed grains to dwindle to 30-year lows near the end of next year.
At 10:12 am CDT (1512 GMT), CBOT corn was down 5 cents to up 1 cent per bushel, with December down 1-1/4 at $3.17 per bushel.
Export workings included news Taiwan on Wednesday would tender for 40,000 to 60,000 tonnes of US corn. An Israeli group was tendering for up to 36,000 tonnes of US corn products including corn gluten feed and distillers grain dried soluble, a by-product of biofuel production.
Comments
Comments are closed.