CBOT corn futures dip on global supplies, farmer selling

CHICAGO, Nov 24 (Reuters) - Chicago Board of Trade corn futures ended lower on Monday, as prices remained under pressure from global supplies, weakness in the wheat and soybean markets, and the recent pace of U.S. farmer selling, traders said.

• CBOT March corn CH26 settled down 3/4-cent at $4.36-3/4 per bushel.

• Farmers have been selling some of their harvest corn crop to benefit from recent price gains and because they do not have enough storage space for all of their crops, traders said.

• Still, cash basis bids for corn were mixed in the U.S. Midwest on Monday, as buying interest eased in some markets ahead of the Thanksgiving Day holiday on Thursday, dealers and traders said.

• The U.S. Department of Agriculture on Monday reported export inspections of U.S. corn in the latest week at 1,632,133 metric tons, in line with a range of trade expectations for 1,250,000 to 1,750,000 tons. USDA/I