CBOT corn ends nearly flat as traders await tariff response

CHICAGO, April 3 (Reuters) - Chicago Board of Trade corn futures finished nearly unchanged on Thursday as traders waited to see how other nations respond to U.S. President Donald Trump's new tariffs on imports.

• CBOT May corn CK25 closed down 1/4 cent at $4.57-1/2 a bushel.

• Trump announced sweeping tariffs on Wednesday that have been mostly criticized by agricultural and food groups for their potential to shrink markets for farmers and raise consumer prices.

• Traders are watching for potential retaliation, though some traders were relieved that Mexico was excluded from the new tariffs because it is the biggest export market for U.S. corn.

• The U.S. Department of Agriculture reported export sales of U.S. old-crop corn in the week ended March 27 at about 1.2 million metric tons, compared to analysts' estimates for 800,000 to 1.6 million tons.

• Ukrainian corn could benefit from Trump's tariffs as it is seen as a partial substitute for U.S. corn if retaliatory sanctions are imposed, analysts said.

• Brazil said it is close to reaching an agreement with Chinese authorities enabling the sale of Brazilian corn-based distillers dried grains (DDG), which is used as animal feed.