Most growers have completed their harvest and were content to keep newly cut corn in storage bins. Cash prices in the $4 to $4.20 range (per bushel) did little to entice farmer sales. A cold snap late this week poses a threat to portions of the US hard red winter wheat crop. MDA Weather Services said the forecasted temperatures are not quite as cold as previous indications, but about 5 percent of the crop is still at risk of winterkill.
At the CBOT, March corn settled up 6-3/4 cents at $4.31-1/4 on short-covering, one day after falling to a life-of-contract low. CBOT January soyabeans ended down 1-1/2 cents at $13.19-3/4 after a seesaw trade, pressured by technical selling and fears that top buyer China might cancel or roll forward purchases of US soyabeans. CBOT March wheat ended up 6-1/2 cents at $6.68-1/4 on short-covering, export demand and worries about winterkill in the Plains.