Corn futures edge up for first time in four sessions

Corn futures gained ground in American trade away from the lowest since June 30, even as the dollar index also rebounded from recent lows, following earlier data from the US, the world's largest corn producer and exporter, while investors await the Federal Reserve's policy decisions later today. 

As of 06:10 GMT, corn futures due on December 16 rose 0.33% to $3.835 from the opening of $3.820, while the dollar index rose 0.18% to 94.23 from the opening of 94.05. 

Earlier US data showed new home sales rose below expectations in June, while later today, the Federal Reserve is expected to maintain overnight interest rates at between 1% and 1.25% in its periodic policy meeting in Washington, as investors look for clues regarding the plan to trim down the bank's massive $4.5 trillion balance sheet. 

Otherwise, the US Department of Agriculture's weekly report cut corn ratings by 200 basis points to 62% as good or excellent, worse than analysts' expectations for a 1% drop.