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CBOT corn ends lower on stronger US dollar, sluggish exports

By Reuters News

CHICAGO, Nov 12 (Reuters) - Chicago Board of Trade corn futures fell for a second straight session on Thursday on a stronger US dollar that could dampen an already sluggish export sales pace.

  • Generally favorable early-season crop weather in South America also hung over the market. The US Department of Agriculture raised its South American corn production forecast this week.

  • The US dollar index strengthened to a 1-1/2-year high on Thursday, creating headwinds for exports of dollar-denominated commodities.

  • Corn rallied on Tuesday after the USDA cut its forecast for end-of-season US supplies in a monthly report. However, the agency cut its US corn export outlook for the 2026/27 season.

  • The USDA is due to release its weekly export sales report early on Friday, a day later than usual due to a federal holiday on Wednesday. Analysts surveyed by Reuters expect net old-crop US corn sales at 2 million to 3 million metric tons for the week ended November 5 and new-crop sales of 600,000 to 800,000 tons. But season-to-date export sales remain at their slowest pace since 2023, USDA data showed.

  • CBOT December corn futures settled 5-1/2 cents lower at $4.42-1/2 per bushel.

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