CBOT corn closes lower a day after nearing a 3-year high
CORN•Corn futures ease after recent rally
Chicago Board of Trade corn futures closed lower on Wednesday for a second straight day, after rising early in the previous session to the highest level in nearly three years.
CBOT December corn CZ26 ended down 7-3/4 cents at $5.29 per bushel.
China trade hopes and weather watched
Traders were waiting to see whether China would agree to buy U.S. farm goods in conjunction with a highly anticipated summit between Presidents Donald Trump and Xi Jinping on Thursday.
"Pre-negotiations with the Chinese have elicited no indication of any grain deal to be announced," Marex said in a note.
Traders monitored rain delaying U.S. harvests.
Rain showers were returning across western corn and soybean production areas, including parts of Nebraska and South Dakota, the U.S. Department of Agriculture said in a daily weather forecast.
