CBOT corn firms after hitting multi-year lows
CHICAGO, Aug 14 (Reuters) -Chicago Board of Trade corn futures stabilized on Wednesday as traders bought back short positions in an oversold market, industry players said.
CBOT September corn CU24 settled up 3-1/4 cents at $3.81 per bushel.
Most-active December CZ24 corn ended up 3-1/2 cents at $4.00-3/4 per bushel.
Large supplies and mostly favorable crop weather in the central U.S. crop belt continue to hang over corn and soy futures.
Firming crude oil prices lent some support to the crops used in biofuels.
Ukraine's 2024 corn harvest may fall to 20 to 21 million metric tons from around 30 million in 2023 if drought continues, the Ukrainian Agrarian Council said.
Reporting by Heather Schlitz; Editing by Pooja Desai
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