CBOT corn mixed amid good demand, ideal weather
CHICAGO, May 15 (Reuters) - Chicago Board of Trade corn futures were mixed on Thursday as futures came under pressure from ideal planting and growing conditions in the U.S. corn belt.
Brazil's corn output is forecast to hit around 125 million metric tons in the 2024/25 crop, said Paulo Bertolini, president of Abramilho, the Brazilian Association of Corn and Sorghum Producers, on Wednesday, adding that the ethanol industry's corn consumption could soon more than double.
The USDA reported weekly export sales of corn totaled 2,186,100 metric tons for the week ending May 8, above a range of analysts' expectations.
Brazilian second-corn farmers are poised to increase production by 11% this year to an estimated 99.8 million metric tons, national crop agency Conab said on Thursday, citing good weather in key growing regions.
CBOT July corn CN25 closed 3 cents higher at $4.48-1/2 per bushel. December corn CZ25, which represents the crop that farmers will harvest this autumn, slipped 1-3/4 cents to end at $4.38-3/4 per bushel.
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