Chicago Board of Trade corn futures ended modestly higher on Wednesday, supported by fresh export sales to Mexico and technical buying after the benchmark December contract hit a three-month low, traders said. CBOT December corn settled up 1-1/2 cents at $3.70-1/4 a bushel after dipping to $3.66-1/4, the contract's lowest since mid-May.

The May and July 2020 corn contracts set life-of-contract lows. The US Department of Agriculture said private exporters sold 328,000 tonnes of US corn to Mexico for delivery in the 2019/20 marketing year that begins September 1. The US Energy Information Administration said weekly US output of corn-based ethanol fell to 1.02 million barrels per day, the smallest since April, while stocks fell to 23.37 million barrels.

Copyright Reuters, 2019