CBOT corn ends up on euro zone optimism

CHICAGO: Chicago Board of Trade corn futures closed higher on Thursday on optimism for a resolution soon to the euro zone debt crisis.

* Brisk demand for corn, firm cash markets and slow farmer selling despite active harvest of the US 2011 corn crop continue to lend support to the corn futures market.

* Overall good harvest weather continued in the US Midwest with the exception of the soggy eastern part of the region, including much of the northern Ohio River Valley, an agricultural meteorologist said on Thursday.

* USDA's weekly export sales report released early on Thursday showed net export sales of US corn last week at 1,845,800 tonnes, below estimates for 2,000,000 to 2,500,000 tonnes.

* USDA's weekly export report included a sale of 900,100 tonnes to China.

* Cash corn spot basis bids climbed in the Midwest because of good demand and slow farmer selling.

* December closed above its 200-day moving average of $6.48-1/2, a bullish technical close