CBOT corn ends lower in setback from three-day rebound
CHICAGO, July 17 (Reuters) - Chicago Board of Trade corn futures eased on Thursday in a setback from recent gains that were driven by short covering and technical buying, traders said.
New-crop CBOT December corn CZ25 ended 3 cents lower at $4.21 a bushel. The market advanced for the previous three sessions in a rebound from contract lows reached on Monday.
Expectations for a bumper U.S. corn crop loomed over futures.
U.S. President Donald Trump also sparked concerns about demand for corn, analysts said, by announcing on Wednesday that Coca-Cola KO.N had agreed to use cane sugar in its U.S. beverages. Coca-Cola produced for the U.S. market is typically sweetened with corn syrup.
Net U.S. corn export sales in the week ended July 10 dropped to 97,600 metric tons for shipment in the 2024-25 marketing year, the U.S. Department of Agriculture said. That was well short of analysts' estimates for at least 500,000 tons in sales.
New-crop U.S. corn export sales of 565,900 tons were within the range of trade estimates. EXP/CORN
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