CBOT corn ends higher in rebound from multi-month lows

CHICAGO, June 10 (Reuters) - Chicago Board of Trade corn futures rose on Tuesday on a bargain-buying bounce from multi-month lows, but improving U.S. crop ratings and benign weather signaled strong production potential and kept a lid on rallies, traders said.

• CBOT July corn CN25 settled up 5-1/4 cents at $4.38-3/4 per bushel, rallying after a dip to $4.29-1/4, the contract's lowest since mid-October.

• CBOT new-crop December corn CZ25 ended up 2 cents at $4.40 a bushel.

• The U.S. Department of Agriculture late Monday rated 71% of the U.S. corn in good to excellent condition, up 2 points from last week, while analysts surveyed by Reuters on average had expected only a 1-point improvement.

• U.S. corn planting is virtually complete with 97% seeded as of June 8, the USDA said.

• South Korean feed makers have been booking corn on the global market, European traders said. Nonghyup Feed Inc (NOFI) bought an estimated 204,000 metric tons of corn in a tender; the Korea Feed Association (KFA) purchased an estimated 65,000 metric tons in a tender and the Major Feedmill Group (MFG) purchased around 68,000 metric tons in a private deal, traders said. GRA/TEND

• Market players continue to watch trade talks between the U.S. and China in London. Talks could spill into a third day, U.S. negotiators said, as the two superpowers pushed for a breakthrough on duelling export controls that had threatened to unravel a delicate tariff truce.

• Ahead of the USDA's monthly supply/demand reports due on Thursday, analysts surveyed by Reuters on average expect the government to lower its forecasts of 2024/25 and 2025/26 U.S. corn ending stocks.