CBOT corn ticks up on buying interest
Corrects March corn closing price and trend in fifth bullet
CHICAGO, Dec 16 (Reuters) -Chicago Board of Trade corn futures ended higher on Monday as an increase in demand supported prices, though the prospect of a bumper South American corn crop limited gains.
Favorable South American crop conditions and a lack of weather threats have pressured corn and soy futures, though both have received support from bargain buying after price falls late last week.
Corn last week touched its highest level since June after the U.S. Department of Agriculture cut its estimate for U.S. end-of-season stocks, but disappointing U.S. corn and soybean export sales last week caused price weakness on Thursday and Friday.
Thin trade volume ahead of the Christmas holiday have kept corn futures stuck in a rangebound trade.
Corn-growing areas of South America were expected to receive showers over the next two weeks that would aid crop development, according to analysts.
CBOT March corn CH25 ended up 3 cents at $4.45 a bushel.
Reporting by Heather Schlitz; Editing by David Gregorio
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