CBOT corn ends flat, US export demand underpins market
CHICAGO, Feb 23 (Reuters) - Chicago Board of Trade corn futures rose to multi-week highs on Monday as U.S. export demand underpinned the market, and then finished nearly unchanged, analysts said.
CBOT March corn CH26 settled flat at $4.27-1/2 per bushel after touching the highest level since February 13. May corn CK26 closed up 1/2 cent at $4.40-1/4 per bushel after rising earlier to the highest level since January 12.
The U.S. Department of Agriculture confirmed that exporters sold 125,000 metric tons of U.S. corn to Colombia.
Weekly U.S. corn export inspections were 2 million metric tons, the USDA reported. Analysts expected 1.2 million to 1.9 million metric tons.
Traders were waiting to see whether U.S. crop exports may be impacted following the Supreme Court's decision to strike down President Donald Trump's import tariffs on Friday.
Trump said on Saturday he will raise a temporary tariff from 10% to 15% on U.S. imports from all countries.
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