CBOT corn futures tick higher on choppy trading session
CHICAGO, Oct 9 (Reuters) -Chicago Board of Trade corn futures ticked higher inchoppy trading on Wednesday, as strength in financial markets boostedagriculture futures and traders adjusted their positions ahead of a government supply-and-demand report, market analysts said.
CBOT December corn CZ24 settled up 1/4 cent at $4.21 a bushel.
The U.S. Department of Agriculture confirmed private sales of 126,000 metric tons of U.S. corn for delivery to unknown destinations in the 2024/25 marketing year.
Traders spent much of the day adjusting their positions ahead of the monthly U.S. Department of Agriculture crop forecasts to be released on Friday, including updated estimates of the U.S. corn after projections of record yields for both crops last month.
Warm, dry conditions are expected in the U.S. Midwest, where farmers are actively harvesting, through next week, analysts said.
Long-awaited rains in Northern Brazil allowed seeding to advance, but it is still heavily delayed, according to Commodity Weather Group.
Reporting by P.J. Huffstutter; Editing by Richard Chang
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