CHICAGO: Chicago Board of Trade (CBOT) corn futures closed modestly higher on Monday after a choppy session, supported by uncertainty about US crop prospects given forecasts for warmer and drier weather in the Midwest crop belt next week, traders said.
CBOT September corn settled up 3/4 cent at $4.39-1/2 per bushel after reaching $4.45-1/4, the contract's highest in a week.
New-crop December corn ended up 1-1/2 cents at $4.43-3/4.
The US Department of Agriculture reported export inspections of US corn in the latest week at 703,192 tonnes, above trade expectations.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to rate 57pc of the US corn crop in good to excellent condition, up from 56pc a week earlier.
A firmer dollar hung over the market, making US grains less competitive on the world market.
Ahead of the USDA's monthly supply/demand report on Thursday, analysts surveyed by Reuters on average expected the government to raise its forecast of US 2019/20 corn ending stocks.
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