CBOT corn rises on US-China trade hopes, South America weather

CHICAGO: Chicago Board of Trade corn futures firmed on Wednesday on eroding crop prospects in South America and hopes that China would accelerate purchases of US crops following trade talks with the United States this week, traders said.

* CBOT March corn settled 2 cents higher at $3.82 per bushel after holding chart support at its 20- and 50-day moving averages.

* US-China trade talks ended with negotiators focused on Beijing's pledge to buy "a substantial amount" of US products, including agricultural goods, the US Trade Representative's office said on Wednesday.

* Poor crop weather in South America, with hot and dry conditions in parts of Brazil and excessive rains in Argentina, also supported prices.