Chicago Board of Trade corn futures closed steady to modestly lower on Monday, with the benchmark December contract ending unchanged in a consolidation after reaching a two-month high. CBOT December corn settled flat at $3.97-3/4 a bushel after touching $4.02-1/2, its highest since August 12. Technical resistance was noted at the contract's 200-day moving average near $4.01-1/2.
A weekend freeze extended farther into the Corn Belt than some had expected, halting the growing season for crops in some areas. But forecasts called for improved harvest weather this week. The US Department of Agriculture's weekly export inspections and crop progress reports were delayed until Tuesday due to Monday's Columbus Day federal holiday.
Comments
Comments are closed.