Commodities
USDA Report Due Amid Slowing Corn Harvest
Corn futures on the Chicago Board of Trade (CBOT) closed slightly lower on Tuesday as traders awaited the quarterly grain stocks data from the US Department of Agriculture, scheduled for release on Wednesday.
The USDA is expected to report corn stocks at 1.918 billion bushels on September 1, up from 1.551 billion a year earlier, according to analyst estimates.
Market participants adjusted their positions before the stocks report and ahead of the month and quarter end, as weather forecaster Vaisala predicted rain will continue to slow US harvesting over the next week.