CBOT corn retreats as traders look ahead to Trump-Xi summit

Chicago Board of Trade corn futures fell on Tuesday as traders waited to see whether China may buy U.S. farm goods in conjunction with planned talks between U.S. President Donald Trump and Chinese President Xi Jinping this week, analysts said.

• Trump will welcome the Chinese leader at the White House for their second meeting this year, as the two leaders seek stability in a relationship under pressure over trade and other issues.
• CBOT grain and soy futures eased after rallying on Monday in anticipation of the summit.
• The U.S. corn harvest is underway, though rain is delaying progress in some areas, analysts said.
• After trading ended on Monday, the U.S. Department of Agriculture reported the corn harvest was 13% complete as of Sunday and soybeans were 12% harvested, ahead of their five-year averages.
• CBOT December corn CZ26 ended down 6-1/4 cents at $5.36-3/4 per bushel.