CBOT corn finishes higher on technical buying, short covering
CHICAGO, July 30 (Reuters) - Chicago Board of Trade corn futures ended higher on Wednesday on technical buying and short covering, traders said.
The market was oversold but still faces pressure from expectations for a record-large U.S. harvest.
Harvesting has started in the far southern fringes of the crop belt, including Texas and Louisiana, weekly U.S. data showed.
CBOT September corn CU25 closed 2-1/2 cents higher at $3.91-3/4 per bushel after setting a life-of-contract low of $3.87-3/4 on Tuesday.
The most-active December contract CZ25 finished 1-1/4 cents higher at $4.12-1/4 a bushel.
On Thursday, the U.S. Department of Agriculture is expected to report weekly U.S. corn export sales of 200,000 to 800,000 metric tons for 2024-25 and of 600,000 to 1.6 million metric tons for 2025-26, analysts said.
Asian demand has been brisk as corn prices have been weak.
Taiwan's MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender on Wednesday, European traders said.
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