CBOT corn ends flat to lower on big supply outlook, good exports limit losses
CHICAGO, Aug 14 (Reuters) - Chicago Board of Trade corn futures ended flat to slightly lower on Thursday as pressure from an expected record U.S. harvest this autumn was largely offset by robust export demand.
Futures are hovering just above contract lows that were posted earlier this week after the U.S. Department of Agriculture forecast a larger-than-expected U.S. corn harvest.
Recent low prices have sparked improved export demand.
Net export sales of new-crop U.S. corn totaled 2,047,813 metric tons in the week ended August 7, the USDA said on Thursday. The sales were near the high end of a range of trade estimates.
The USDA confirmed more private sales via its daily reporting system on Thursday, including 132,000 metric tons to Spain and 136,000 tons to South Korea.
Brazilian farmers are expected to harvest 137 million metric tons of corn in 2024/25, crop agency Conab said on Thursday after raising its estimate for second-crop corn production by 5 million tons to 109.6 million tons. Conab also increased its export forecast to 40 million tons from 36 million tons.
Actively traded CBOT December corn futures CZ25 ended unchanged at $3.97-1/4 per bushel.
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