Chicago corn futures fall on pressure from cheap Argentine feed wheat

CHICAGO, Dec 15 (Reuters) - Chicago Board of Trade corn futures ended lower on Monday, pressured by cheap Argentine feed wheat, which could reduce corn demand, traders said.

• The weakness in corn futures was part of a broad selloff in agriculture and energy markets, said market analysts, who noted that funds had built a net long position in CBOT corn futures by mid-November. That move leaves the market prone to bouts of long liquidation, they said.

• CBOT March corn CH26 settled down 1 cent at $4.39-3/4 per bushel. During the session, the most-active contract Cv1 dipped to a low of $4.36-3/4 a bushel - the lowest price since November 15.

• A massive wheat harvest in Argentina threatens to compete with corn as a feed grain. Chinese state-owned agribusiness COFCO International was loading the first bulk commercial shipment of Argentine wheat bound for China, the company said.

• The U.S. Department of Agriculture reported that exporters sold 150,320 metric tons of U.S. corn to unknown buyers for 2025/2026 delivery.

• U.S. corn export sales for the week ended November 20 were 1.8 million metric tons, within analysts' expectations.