CBOT corn down on spillover weakness from wheat
CHICAGO, March 4 (Reuters) - Chicago Board of Trade corn futures headed lower on Wednesday on spillover weakness from wheat futures as the conflict in Iran faded into the background for some commodity traders.
U.S. corn export sales remained solid, with U.S. prices the cheapest among major exporters.
Exporters sold 125,000 metric tons of U.S. corn to unknown buyers, the U.S. Department of Agriculture said through a daily reporting system.
Though some traders have shifted focus away from Middle Eastern tensions, high crude oil prices due to the conflict have continued to lend some underlying support to agricultural markets, given that crops including soybeans and corn are widely processed for biofuel.
May corn CK26 closed 2-3/4 cents lower to $4.43-3/4 per bushel.
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