CBOT corn ends higher as traders weigh crop tour results

CHICAGO, Aug 21 (Reuters) - Chicago Board of Trade corn futures chopped up and down before ending higher on Friday following an 18-month high set in the previous session as traders digested results from a crop tour that raised concerns about prospects for this year's U.S. harvest yields.

• The market has been closely following reports from the Pro Farmer field tour after the U.S. Department of Agriculture cut its corn and soybean yield forecasts last week.
• U.S. farmers will harvest a corn crop this fall totaling 15.344 billion bushels, with an average yield of 173.2 bushels per acre, advisory service Pro Farmer said on Friday.
• The outlook compares with the U.S. Agriculture Department's latest forecast for corn production at 16.013 billion bushels with yields averaging 180.7 bpa.
• Scouts found some great crops in eastern areas of Iowa and Minnesota on Thursday, the final day of the four-day tour, but nothing to challenge expectations that this year's U.S. corn crop will fall short of last year's record.
• The most-active corn contract Cv1 settled 5 cents higher at $5.08-1/2 a bushel.