CBOT corn closed the year-end up 6.7 percent over 2017 - the first annual gain since the US drought-fraught year of 2012. Corn has risen this year as tightening wheat supply fueled additional demand from livestock feed makers, offsetting concerns about disruption to US shipments to China.
The USDA reported export inspections of US corn in the latest week at 913,797 tonnes, in line with trade expectations for 850,000 to 1.1 million tonnes. Fundamental news was lacking on Monday, allowing brokers and commodity funds to focus on squaring positions on the last trading day of the month, quarter and year.