CBOT corn firms as rains delay Brazil's planting

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>CBOT corn firms as rains delay Brazil's planting</title></head><body>

CHICAGO, Feb 8 (Reuters) -Chicago Board of Trade corn futures firmed on Wednesday, supported by wet weather in Brazil that is delaying soybean harvest and pushing back planting of the country's second corn crop, traders said.

* Gains were capped by the U.S. Department of Agriculture's monthly supply and demand report that showed larger than expected U.S. ending corn stocks of 1.267 billion bushels in the 2022/2023 marketing year, due to diminished ethanol consumption.

* The benchmark CBOT March corn futures contract CH3 ended the session up 4-1/2 cents at $6.78-1/2 a bushel.

* In Brazil, farmers are expected to produce a smaller second corn crop because of soy harvesting delays, Brazil's food supply and statistics agency Conab said.

* Argentina's Rosario Grains exchange cut its forecast for the country's 2022/23 corn harvest to 42.5 million tonnes from a previous forecast of 45 million tonnes, amid a historic drought.

Reporting by Christopher Walljasper;
Editing by Sandra Maler


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.