CBOT corn futures lower on harvest pressure

03 Nov, 2017

Chicago Board of Trade corn futures closed lower on Tuesday on pressure from rising supplies as US farmers harvest a bumper crop and on spillover pressure from sharply lower wheat prices, traders said. The US Department of Agriculture late Monday said the US corn harvest was 54 percent complete, behind the five-year average of 72 percent but ahead of an average of trade expectations for 53 percent.

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