CBOT corn gains on lower Argentine harvest outlook
CHICAGO, March 13 (Reuters) - Chicago Board of Trade corn futures turned higher on Thursday, after lower estimates for Argentina's corn crop and a weak dollar boosted prices.
CBOT May corn CK25 settled up 4-1/2 cents to $4.65-1/4 a bushel.
Argentina's Rosario Grains Exchange lowered its outlooks for the nation's 2024-25 corn and soy harvests on Wednesday, adding support to U.S. corn and soy futures.
USDA reported weekly U.S. corn export sales of 967,300 metric tons for 2024-25, compared to analysts' estimates for 725,000 to 1.4 million metric tons.
Mexico was the biggest weekly buyer, USDA data show, despite trade tensions with U.S. President Donald Trump.
Grain markets bounced back after being unsettled on Wednesday by the implementation of increased U.S. tariffs on all steel and aluminum imports, prompting the European Union and Canada to announce retaliatory duties on a range of U.S. goods.
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