CBOT corn ends lower on technical selling, declines in soybeans
CHICAGO, Dec 12 (Reuters) - Chicago Board of Trade corn futures ended lower on Friday on chart-related selling, ample global grain supplies and spillover weakness from soybeans, traders said.
CBOT March corn CH26 settled down 5-3/4 cents at $4.40-3/4 per bushel, dropping back below its 50-day moving average for the first time since November 26.
The March contract CH26 was unable all week to break through overhead resistance at $4.50 a bushel, a bearish technical signal.
For the week, the CBOT March contract fell 4 cents a bushel or 0.9%.
Argentina's government formalized a cut to export taxes on grains by publishing the measure in the official gazette.
A massive wheat harvest in Argentina threatens to compete with corn as a feed grain. The Rosario Grains Exchange raised its estimate of Argentina's 2025/26 wheat harvest this week to a record 27.7 million metric tons.
Traders shrugged off support from news that the U.S. Department of Agriculture (USDA) confirmed sales of 250,000 metric tons of U.S. corn to undisclosed destinations.
Ahead of backdated export sales data due from the USDA on Monday, traders expect the agency to report export sales of U.S. corn in the week ended November 20 at 1.1 million to 2.2 million metric tons.
Related Articles
Netflix Stock Analysis: Why Netflix Stock Keeps Falling, and When Should Investors Buy Netflix Stock?
While the final terms for Netflix's acquisition of WBD remain uncertain in the short term, we view the recent decline, driven by market sentiment, as a significant long-term undervalued opportunity. The return to more realistic valuations enhances the investment appeal of Netflix stock.
Musk Confirms SpaceX 2026 IPO: The Dual ‘Trillion-Dollar’ Bet with Hidden Risks
TradingKey - Elon Musk has confirmed speculation that his space exploration company, SpaceX, is preparing for an IPO as early as 2026. The potential listing, which could value SpaceX at over $1 trillion, might catapult it into the ranks of the world's top ten most valuable companies. This raises a
Judgment on the Fed's December Rate Cut and 2026 Monetary Policy Trend: Identifying Opportunities in the U.S. Stock Market
TradingKey - The Federal Reserve is likely to halt its rate-cutting cycle before the end of Q2 2026...The magnitude of rate cuts in Q3 and Q4 2026 is expected to far exceed current market expectations...U.S. equities are highly likely to follow a "bearish-then-bullish" trajectory throughout 2026.
Why Is the "Altcoin Season" Delayed? Will Altcoins Perish?
The anticipated "altcoin season" has yet to materialize, constrained by a lack of fresh market capital and Bitcoin's continued dominance in absorbing available funds. This does not mean all altcoins will perish; however, a segment of these tokens will gradually exit the market. Therefore, caution is
Gold Price Steady Climb and the Sudden Surge of Silver and Copper: Will Their Bull Run Extend Into 2026?
Dow Jones Market Data shows this marks the first time since 1980all three metals—gold, silver, and copper—simultaneously refreshed their all-time highs in the same year. Will this rally extend into 2026?
