CBOT corn recovers from lows on technical trading, demand uptick
CHICAGO, Aug 7 (Reuters) - Chicago Board of Trade corn futures recovered from previous contract lows on Thursday as chart support and signs of new export demand countered the pressure of ample supplies, traders said
Ample global supply of corn had pushed corn futures to contract lows on Wednesday.
Cheap prices have helped spur demand for U.S. corn.
The U.S. Department of Agriculture reported total weekly net export sales of corn in the week ended July 31 at 3,333,600 metric tons, above analyst expectations.
The U.S. is expected to produce bumper corn and soy harvests later in the year. Analysts polled by Reuters think the U.S. Department of Agriculture will raise its estimates in a monthly report due on August 12.
CBOT December contract CZ25 rose 5-3/4 cents to close at $4.07 per bushel, after hitting a low of $3.96-3/4 per bushel the previous date. September 2025 to September 2026 corn contracts hit lifetime lows.
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