CBOT corn ends lower, turning down after climb to 2-month top
CHICAGO, Sept 24 (Reuters) -Chicago Board of Trade corn futures ended lower on Tuesday, with the benchmark December contract retreating from a two-month high as hedge-related selling outweighed early support from strength in soybeans and news that China's central bank unveiled stimulus measures to support its economy.
CBOT December corn CZ24 settled down 1-3/4 cents at $4.11-3/4 per bushel, retreating after a climb to $4.18-1/4, the highest on a continuous chart of the most-active contract Cv1 since July 26.
The rally triggered hedge pressure tied to farmer grain sales, analysts said, which knocked futures off the day's highs.
In its weekly crop progress report released after Monday's market close, the USDA reported the U.S. corn harvest as 14% complete, lagging trade expectations but still ahead of the five-year average of 11%.
Showers crossed portions of the central Midwest on Tuesday, interrupting field work.
Reporting by Julie Ingwersen; Editing by Alan Barona
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