CBOT corn ends higher on bargain buying
CHICAGO, Aug 21 (Reuters) - Chicago Board of Trade corn futures ticked higher on Thursday as low prices attracted bargain buying and traders covered short positions.
Grain markets were awaiting a demand update from weekly U.S. export sales later on Thursday and further results from Pro Farmer's annual crop tour through the U.S. Midwest.
Crop scouts on the annual Pro Farmer Midwest crop tour found above-average yield prospects in Illinois and western Iowa on Wednesday. But the tour's estimated average yield for Illinois, the No. 2 producing state, was down from last year.
Traders are awaiting further reports from day 4 of the tour, with scouts surveying fields in eastern Iowa and Minnesota. Pro Farmer will release its final crop outlook on Friday, drawing from tour observations.
The USDA reported net new-crop U.S. corn export sales at 1,133,000 metric tons in the week ended August 14, above the low end of trade estimates for 900,000 to 2,000,000 tons.
Grain markets were awaiting a demand update from weekly U.S. export sales later on Thursday and further results from Pro Farmer's annual crop tour through the U.S. Midwest.
CBOT December corn futures CZ25 ended 7-3/4 cents higher at $4.11-3/4 per bushel.
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