US corn futures closed lower on Monday as profit-taking weighs after the market rose to 26-month highs. A sale of 10,000 corn contracts electronically broke the market down from the day's highs. CBOT December down 4-3/4 cents at $5.77-1/4 a bushel. Funds sold 3,000 contracts.
Dry weather in the US Midwest favours final harvest of the corn and soybean crop and is boosting final seedings of winter wheat. Private exporters reported the sale of 120,000 tonnes of US corn to Egypt for 2010/11 delivery - USDA. Contract highs hit in some deferred months. CBOT December oats down 5 cents per bushel at $3.63.