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CBoT Corn Falls from 14 Month High as Market Awaits Fresh Chinese Orders

28 Oct 2020 8:04 am
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Mumbai (Commodities Control) – U.S. corn futures fell on Wednesday as traders locked in profits after prices hit a 14-month peak in the previous session, although losses were checked by strong recent demand from China.

The most active corn futures on the Chicago Board Of Trade were up 0.4% at $4.15 a bushel by 0155 GMT, near the session trough of $4.12-1/4 a bushel – the lowest since Oct 22.

Corn closed down 0.4% in the previous session, when prices earlier hit a 14-month high of $4.22-1/4 a bushel.

The market is waiting to see whether China will buy more U.S. corn and soy after a recent uptick in purchases.

(Commodities Control Bureau)

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