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Markets

CBOT corn ends flat on global economic uncertainty

Published Updated

CornCHICAGO: Chicago Board of Trade corn futures ended flat on Friday in volatile dealings, with the market buffeted by uncertainty about the fate of the euro zone debt crisis.

* Corn was underpinned by slow farmer selling, firm cash markets and good demand.

* Hopes for a resolution to the euro zone debt crisis weakened the dollar, lifted grains and crude oil and gave a boost to equity markets.

* Showers slowed harvest in portions of the eastern US Midwest but the bulk of the Midwest remained conducive to combining. Frost seen killing weeds and boosting harvest progress, causing no harm to mature crops.

* US cash corn basis bids were firm, supported by slow farmer selling and good demand.

* Key support for December at its 200-day moving average of $6.49 and key resistance at the 100-day MA of $6.78-1/2.

Copyright Reuters, 2011

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