Corn futures hit three-week highs as dollar dips

Corn futures rebounded for the sixth straight session away from November 15 lows, marking thereafter the highest since December 5, as the dollar index dipped to the lowest since early December, following earlier data from the US, the world's largest corn producer and exporter. 

As of 09:59 GMT, corn futures due on March 15 rose 0.28% to $3.5375 from the opening of $3.5275, while the dollar index slipped 0.24% to 93.04 from the opening of 93.26. 

Earlier US data showed pending home sales rose 0.2% in November, slowing down from 3.5% in October, while analysts expected a 0.4% dip.

On a yearly basis, sales slowed down to 0.6% from 11.2%. 

The CB Consumer Confidence survey fell to 122.1 in December from 128.6, revised from 129.5, while analysts expected 128.2. 

The US Department of Agriculture's latest monthly report cut inventory forecasts to 2,437 million bushels from 2,487 million in November forecasts, while analysts expected 2,478 million.