CBOT corn sags on expectations for bumper US harvest
CHICAGO, Aug 1 (Reuters) - Chicago Board of Trade corn futures ended lower on Friday under pressure from forecasts for a record U.S. harvest, traders said.
Consultancy StoneX is slated to release its first official yield estimates for the year on Monday.
The U.S. Department of Agriculture is due to update its crop yield and production forecasts in a monthly report on August 12.
Cool weather and generally adequate soil moisture reserves are benefiting corn and soybean crops in the Midwest, the USDA said in a daily weather report.
The USDA separately reported exporters sold a total of 352,160 metric tons of U.S. corn to unknown destinations.
Export demand has been strong as buyers take advantage of low prices.
CBOT December contract CZ25 closed 3 cents lower at $4.10-3/4 a bushel and lost about 2% for the week.
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