US MIDDAY: corn hits 31-month top

Corn future rose to a 31-month high at the Chicago Board of Trade on Thursday, supported by strong export sales and continued momentum from the US Agriculture Department's forecast for a 15-year low in ending stocks, traders said. Wheat futures fell in early trading, hampered by a firm dollar, which makes US commodities less attractive to buyers seeking an inflationary hedge.
Soyabeans were close to unchanged, pressured by the strong dollar but supported by spillover strength from the corn rally. CBOT trends as of 9:42 am CST (1542 GMT) on Thursday: March wheat down 4-1/4 cents at $8.81-3/4 per bushel. March corn up 3-1/2 cents at $7.01-1/2 per bushel. March soyabeans down 1 cent at $14.50 per bushel.