CBOT corn recovers from life of contract lows
CHICAGO, July 16 (Reuters) -Chicago Board of Trade (CBOT) corn futures gained ground on Tuesday after several contract months set life-of-contract lows a day earlier as traders went bargain shopping and crop estimates fell in some parts of the world.
CBOT September corn CU24 rose 5-1/4 cents at $3.95-3/4 per bushel.
New-crop December corn CZ24 ended up 4-1/2 cents at $4.08-3/4 a bushel.
The U.S. Department of Agriculture kept its good-excellent condition ratings at 68% for the U.S. corn and soybean crops in a report issued after trading ended on Monday. Analysts had expected a slight improvement.
Ukraine's 2024 corn yield could fall by 30-35% because of extreme heat and drought, the county's major agricultural producers group, the Ukrainian Agrarian Council, said on Tuesday.
Traders weighed the impact of severe storms in the Corn Belt on Monday night.
Reporting by Renee Hickman;
Editing by Sandra Maler
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