date:Dec 03, 2012
March corn traded lower on the day on light profit taking and pressure from a weaker wheat market. Above normal precipitation in Argentina and below normal in Southern Brazil continues to help the market move higher but it seems the recent run to the upside needed a break and traders took profits.
Export sales were disappointing which likely triggered the move lower. Sales came in at 236,100 tonnes for the current marketing year and 27,400 for the next marketing year for a total of 263,500.