CHICAGO: Chicago Board of Trade corn futures ended modestly higher on Tuesday as technical buying and short-covering overshadowed pressure from strong US crop ratings and generally favorable weather in the Midwest, traders said.
CBOT July corn settled up 1 cent at $3.24-1/4 per bushel and stayed inside of Monday's trading range.
Commodity funds hold a large net short position in CBOT corn futures, leaving the market vulnerable to bouts of short-covering.
A softening US dollar lent support, making US grain more competitive on the global export market.
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