CBOT corn rises on renewed international demand
CHICAGO, Oct 22 (Reuters) -Chicago Board of Trade corn futures turned higher on Tuesday as a flurry of export sales helped stem market pressure from a fast-moving U.S. harvest and improved planting weather in South America, analysts said.
CBOT December corn CZ24 settled up 7 cents at $4.16-1/2 a bushel.
Corn and soybean sales on Monday and an additional corn sale early on Tuesday suggested buying interest after corn and soybean futures hit multi-week lows last week.
The U.S. Department of Agriculture also reported that the corn harvest was 65% complete, ahead of the five-year average of 52%. The weekly pace was above analyst expectations of 63%, according to a Reuters poll of 12 analysts.
The USDA on Tuesday confirmed private sales of 359,500 metric tons of corn to Mexico, the latest of a series of daily corn sales announcements.
Reporting by Heather Schlitz; Editing by Mark Porter
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