US corn futures closed sharply lower on Friday amid private forecasts for record large 2009 US corn harvest, waning worries about frost damage to the crop and weak crude oil. CBOT December corn down 7 cents at $3.33-1/2 a bushel. Funds sold 6,000 lots. Informa sees 2009 US corn crop at a record large 13.127 billion bushels.
Moderate to heavy rains moved through the US Midwest during the past day, putting a halt to corn and soy harvest. Taiwan's Maize Group buys Brazilian corn from Toepfer. Spot basis bids for corn steady around US Midwest early on Friday. CBOT December oats closed 3-1/2 cents lower at $2.20-1/2. Canada oats output down 32.1 percent to 2.90 million tonnes versus 4.27 million tonnes in 2008.
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