CBOT corn reaches one-week high as traders await US crop data

Jan 7 (Reuters) - Chicago Board of Trade corn futures set a one-week high on Wednesday as traders said the U.S. Department of Agriculture may reduce its 2025 yield estimate in an upcoming crop report.

• On January 12, the USDA is slated to issue data on world agricultural supplies and demand and on U.S. grain stocks as of December 1.

• The agency may cut its estimate for last year's average U.S. corn yield due to dryness late in the growing season, traders said.

• In Argentina, heavy rainfall forecast across most of the agricultural belt will boost moisture levels over the coming days, benefiting soy and corn crops at key development stages, two major grain exchanges said.

• CBOT March corn CH26 closed 2-3/4 cents higher at $4.46-3/4 per bushel and touched the highest level since December 29.

• On Thursday, the USDA is expected to report 2025-26 U.S. corn export sales were 700,000 to 1.5 million metric tons in the week that ended on January 1, analysts said in a Reuters poll. They estimated weekly sales were zero to 100,000 metric tons for 2026-27 delivery.