CBOT corn turns lower after hitting new 6-month high
CHICAGO, Dec 30 (Reuters) - Chicago Board of Trade corn futures weakened after a round of short-covering earlier in the session but the market was underpinned by concerns over weather conditions in Argentina.
CBOT March corn CH25 settled down 1-3/4 cents at $4.52-1/4 per bushel, having hit its highest point since mid-June earlier in the session at $4.59.
Dry, hot weather is expected to threaten the corn crop in northeast Argentina through the beginning of January, according to the Commodity Weather Group.
Corn bounced back and forth in choppy trading, with an outburst of short covering followed by traders exiting the market ahead of the New Year holiday, analysts said.
(Reporting by Renee Hickman in Chicago; Editing by Mark Porter)
((renee.hickman@thomsonreuters.com))
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