CBOT corn ends lower on accelerating US harvest, technical pressure
CHICAGO, Oct 3 (Reuters) - Chicago Board of Trade corn futures fell on Friday and ended lower for a third straight week as abundant supplies and the accelerating harvest of a likely record-large U.S. crop weighed on the market, analysts said.
CBOT December corn CZ25 settled 2-3/4 cents lower at $4.19 per bushel. For the week, the actively traded contract was down 0.7%, its third straight weekly decline.
The December contract hit overhead chart resistance at its 20- and 100-day moving averages, triggering technical selling.
A U.S. government shutdown since Wednesday amid political deadlock over budget funding will likely delay the release of key U.S. Department of Agriculture reports, including weekly harvest progress data and a monthly crop supply and demand outlook next Thursday.
Warm and dry weather over the U.S. Corn Belt allowed farmers to accelerate harvesting this week.
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