CHICAGO: Chicago Board of Trade corn futures ended modestly higher on Friday on technical buying and uncertainty about US crop production prospects, traders said.
CBOT September corn settled up 2 cents at $4.38-3/4 per bushel.
For the week, the contract rose 14 cents or 3.3pc, snapping a two-week decline.
Improved US crop weather hung over the market, capping rallies. Forecasts called for favorably warm Midwest temperatures over the next week and widespread rainfall that should maintain ample soil moisture, albeit with a risk of excessive wetness in the northwestern Corn Belt.
The US Department of Agriculture reported export sales of US corn in the latest week at 331,900 tonnes (old and new crop years combined), toward the low end of trade expectations for 200,000 to 700,000 tonnes.
The US Environmental Protection Agency said its proposed renewable fuels mandate for 2020 would include 15 billion gallons of conventional biofuels like ethanol, unchanged from 2019.
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