CBOT corn futures end higher on spillover support from wheat
CHICAGO, Oct 2 (Reuters) - Chicago Board of Trade corn futures ended higher on Thursday on spillover support from rising wheat futures and a weaker dollar.
Most-active CBOT December corn CZ25 settled 5-1/4 cents higher at $4.21-1/2 per bushel.
A U.S. government shutdown since Wednesday, amid political deadlock over budget funding, will likely delay the release of key USDA data.
The dollar fell to near a one-week low on Thursday as traders weighed the impact of the U.S. government shutdown, while poor jobs data boosted expectations that the U.S. Federal Reserve will cut interest rates two more times this year.
A weaker dollar tends to make U.S. exports cheaper and more competitive on the global market.
Warm and dry weather over the U.S. Corn Belt promoted harvest progress over the weekend, and forecasts called for more of the same this week.
Commodity brokerage StoneX on Wednesday lowered its estimate of the average U.S. 2025 corn yield to 185.9 bushels per acre (bpa), down from 186.9 in its previous monthly report released on September 4.
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