CBOT corn finishes higher on US election positioning
CHICAGO, Nov 5 (Reuters) -Chicago Board of Trade corn futures advanced on Tuesday as traders adjusted positions while waiting for results of the U.S. presidential election.
Proposed tariffs from Republican candidate Donald Trump are a focus for grain traders, as they could disrupt U.S. agricultural trade. Trump's first term featured a trade war with China.
Solid export demand for U.S. corn has underpinned futures prices ahead of the election.
Exporters sold 124,000 metric tons of U.S. corn to unknown buyers, the U.S. Department of Agriculture said in a daily reporting system.
The department, in a monthly report on Friday, is expected to keep its 2024-25 U.S. corn production and yield estimates largely unchanged from October, according to a Reuters survey of analysts.
U.S. corn ending stocks for 2024-25 are estimated at 1.946 billion bushels, compared to 1.999 billion a month ago, the survey showed.
CBOT most-active December corn CZ24 was 2 cents higher at $4.18-1/2 per bushel at the end of trading.
Reporting by Tom Polansek; Editing by Paul Simao
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