Cbot corn futures analysts noted CBOT corn futures have

Analysts noted CBOT corn futures have been hovering in a consolidation range between $4.75 and $4.88, suggesting a technical resistance near $4. Both longs and shorts were also added in soybeans, but bulls had the edge. Money managers increased their net long in CBOT soybeans by about 5,000 contracts to 31,067 futures and options contracts. Corn fields are pictured during an annual U.S. Midwest crop surveying tour, near Randolph, Nebraska, U.S. August 21, 2023. REUTERS/Karen Braun/File Photo Purchase Licensing Rights , opens new tab CBOT corn futures are reacting to mixed South American crop outlooks, with Brazilian dryness contrasted by Argentina’s favorable rainfall. Weather model divergence adds uncertainty, likely keeping futures in a choppy range until clearer production numbers emerge.