US corn futures closed higher on Monday on a rally in crude oil, end-of-month fund buying, spillover support from a rebound in wheat. CBOT March corn up 15-1/2 cents at $6.59-1/2 per bushel. Funds bought an estimated net 8,000 contracts. Spot March corn closed up 4.85 percent for the month. USDA reported export inspections of US corn in the latest week at 18.690 million bushels, below trade estimates for 25 million to 30 million.
Cash corn basis steady/firm in US Midwest interior amid quiet farmer selling. Rains to benefit soy, corn crops in Argentina, Brazil-DTN. CBOT March oats up 10-1/2 cents per bushel at $3.96.
More Stories
Comments
Comments are closed for this article.