CBOT corn rises 1 pct on concerns about crop development

CHICAGO: Chicago Board of Trade corn futures rose on Wednesday on concerns about the health of the US crop as it heads toward pollination, traders said.

Forecasts for hotter and drier weather in key growing areas in the next week sparked a round of buying.

The most actively traded corn contract has risen for seven sessions in a row, rising 12.9 percent during the streak.

It was the longest streak of positive closes for corn since a stretch of equivalent length in April 2016.

Analysts were expecting a US Department of Agriculture report on Wednesday afternoon to show that good-to-excellent ratings for the corn crop fell one percentage point in the latest week.