CHICAGO: Chicago Board of Trade corn futures firmed on Wednesday on a small bargain-buying bounce after dropping to contract lows on Tuesday, traders said. Expectations for a massive US harvest this fall kept the gains in check.
Analysts' forecasts for the US Agriculture Department's weekly export sales report on Thursday morning ranged from 2.1 million tonnes to 3.2 million tonnes for corn. Private analytics firm IHS Markit Agribusiness forecast US corn production at 15.036 billion bushels, with an average yield of 179.0 billion bushels per acre.
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