Chicago Board of Trade corn futures eased on Friday on a mild technical setback, traders said. Declines were limited amid signs of strong export demand as well as concerns that cold weather in the US Midwest could cause planting delays in the coming weeks. The US Agriculture Department said that private exporters reported the sale of 100,000 tonnes of corn to Egypt for delivery during the 2017/18 marketing year.
The benchmark CBOT May contract found support at its 10-day moving average. South Korea's Korea Corn Processing Industry Association bought about 65,000 tonnes of corn for $225 a tonne c&f. Traders said it was likely to be sourced from the United States in a private, non-tender deal. Technical support for the benchmark CBOT May contract was noted at its 10-day moving average. The most-active CBOT corn futures contract rose 0.3 percent this week.