CBOT corn ticks down on lowered export demand
CHICAGO, Aug 27 (Reuters) - Chicago Board of Trade corn futures edged down on Wednesday on selling pressure, expectations of a bumper U.S. harvest and limited export demand, according to analysts,
Analysts said rallies in corn prices earlier in the week pushed export demand lower.
Corn has also been hit by selling pressure as farmers clear their old-crop corn to make room for a hefty new crop.
The U.S. Department of Agriculture rated 71% of the corn crop as being in good or excellent shape as of August 24, unchanged from a week earlier. Analysts expected 70%, according to a Reuters poll.
The historically strong ratings helped to support projections for a record-breaking corn harvest this autumn after largely favorable summertime weather across much of the Midwest farm belt.
CBOT December corn futures CZ25 ended 3-1/2 cents lower to $4.06 per bushel.
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