CBOT corn ends higher as USDA tightens US stocks forecast

CHICAGO, Dec 9 (Reuters) - Chicago Board of Trade corn futures ended higher on Tuesday after the U.S. Department of Agriculture lowered its forecast of U.S. corn end-year inventories by more than most analysts expected amid brisk export demand, traders said.

• CBOT March corn CH26 settled up 4-1/4 cents $4.48 per bushel, pushing through chart resistance at its 200-day moving average near $4.47.

• In a monthly supply-demand report, the U.S. Department of Agriculture cut its forecast of the amount of U.S. corn remaining at the end of the 2025-26 marketing year to 2.029 billion bushels, down from 2.154 billion in November. Analysts surveyed by Reuters on average had expected a cut to 2.124 billion.

• The USDA raised its forecast of U.S. 2025/26 corn exports to 3.2 billion bushels, from 3.075 billion previously.

• Traders shrugged off pressure from news that Argentina will lower export taxes on grains, soybeans and soy products in the coming days, sharpening competition for global export business. Argentine export taxes on corn and sorghum will be cut to 8.5% from 9.5% previously.

• Delays in corn harvesting this year and a possible decrease in its quality may reduce Ukrainian corn's export potential in the 2025/26 season, major Ukrainian farmers union UAC said.