Chicago corn futures rise on positioning, export optimism

CHICAGO, Nov 26 (Reuters) - Chicago Board of Trade corn futures turned higher on Wednesday as traders monitored demand from China and positioned ahead of the U.S. Thanksgiving holiday.

• CBOT March corn CH26 settled up 7 cents at $4.45-1/4 per bushel.

• Chinese purchases of U.S. soybeans may have caused some optimism that the country could be eyeing U.S. corn purchases as well, analysts said.

• The corn cash market remained firm this week as grain buyers looked to stock up ahead of the holiday, analysts said.

• Brazil's 2025/26 corn production is expected to reach 138.6 million metric tons, an LSEG Research & Insights report released on Wednesday showed, a 1% cut from the previous forecast due to drought risks.

• Argentina's early 2025/26 corn crops are in excellent condition due to adequate soil moisture and near-normal temperatures, but longer-term forecasts predict dry conditions that could increase drought risks, a report from LSEG Research & Insights said on Wednesday.

• The U.S. Department of Agriculture reported net export sales of corn at 1,326,600 metric tons for the week ended October 9, within trade expectations.