CBOT corn futures higher on technical trading

Reuters

CHICAGO: Chicago corn futures edged higher on Thursday, on technical trading and signs the weather may not be so crop-friendly across the US Corn Belt in coming days, traders said.

Chicago Board of Trade July corn futures settled up 3/4 cent at $3.31 a bushel.

US corn exports totaled 472,600 tonnes for the period ending June 11, the US Agriculture Department said, below the low end of trade expectations.

The US Environmental Protection Agency has received 52 new petitions for retroactive biofuel blending waivers that, if granted, would help bring oil refiners into compliance with a court ruling from this year, EPA data showed on Thursday.

US Midwest and northern Plains weather forecasts calling for rain and easing temperatures in the week ahead tempered concern about stressed corn after a recent hot, dry spell.

But traders said some weather forecasts now are calling for less rain than expected in the week ahead, which could impact crops.

China has suspended pork imports from a plant owned by German meat producer Toennies, a customs document showed on Thursday, a day after the company reported a coronavirus outbreak among workers at the site.