CBOT corn ekes out higher close, following soy strength

CHICAGO, Oct 20 (Reuters) - Chicago Board of Trade corn futures ended modestly firmer on Monday to post their fifth consecutive higher daily close, following as soybean futures rose 1% on optimism about U.S.-China trade talks later this month, brokers said.

• CBOT December corn CZ25 settled up 3/4 cent at $4.23-3/4 per bushel.

• But rallies were capped by pressure from the ongoing U.S. harvest of what is projected to be a record-large U.S. corn crop.

• Analysts surveyed by Reuters on average estimated that the U.S. corn harvest was 59% complete.

• No reports from the U.S. Department of Agriculture's statistical arm were scheduled this week due to the ongoing government shutdown.

• However, the USDA did release weekly export inspections data that showed inspections of U.S. corn in the latest week at 1,317,724 metric tons, in line with trade expectations for 1,000,000 to 1,615,000 tons. USDA/I

• Some traders noted pressure on the corn market from worries about U.S. tensions with Colombia, a major buyer of U.S. corn. Colombia recalled its ambassador from Washington after Trump said he would raise tariffs on the South American nation and stop all payments to it, intensifying a feud stemming from U.S. military strikes on vessels allegedly transporting drugs.

• In Brazil, planting of the country's first-season corn crop was 51% complete in the country's key center-south region, versus 48% a year earlier, agribusiness consultancy AgRural said.