CBOT corn closes nearly flat before USDA releases crop data
Jan 9 (Reuters) - Chicago Board of Trade corn futures finished nearly flat on Friday as traders adjusted positions before the U.S. Department of Agriculture was slated to issue crop data on Monday.
Analysts on average expect the USDA will trim its estimates for U.S. corn production and yields from November, according to a Reuters poll.
The average trade estimate for quarterly U.S. corn stocks as of December 1 was 12.962 billion bushels, another Reuters poll showed. That would be up 7.3% from a year earlier and represent the largest December 1 corn stocks figure in USDA records dating to 1926.
Traders were also monitoring investor flows linked to annual changes in the composition of commodity indexes.
CBOT March corn CH26 finished 1/4 cent lower at $4.45-3/4 per bushel. The contract jumped about 1.9% for the week.
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