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CBOT corn weakens after rally

CBOT corn weakens after rally

Reuters · 09/13/2022 14:28
CBOT corn weakens after rally

- Chicago Board of Trade corn futures fell on Tuesday on a profit-taking setback after rallying to their highest since June 27 on Monday, traders said.

* Losses were kept in check by concerns about crop shortfalls around the globe and questions about the reliability of shipments from Ukraine.

* The benchmark CBOT December corn futures contract CZ2 ended down 3-1/4 cents at $6.92-3/4 a bushel.

* France, the European Union's biggest grain grower, on Tuesday reduced its forecast for this year's drought-hit maize crop by 1 million tonnes to the lowest level since 1990.

(Reporting by Mark Weinraub; editing by Jonathan Oatis)

((mark.weinraub@thomsonreuters.com; +1 313 484 5282; Reuters Messaging: mark.weinraub.thomsonreuters.com@reuters.))