CHICAGO: Chicago Board of Trade corn futures edged higher on Wednesday on short covering, traders said, after the US Department of Agriculture confirmed expectations for a large harvest.
CBOT December corn ended up 3-3/4 cents at $3.27-1/4 per bushel and touched its highest price since August 4. US farmers will reap their biggest corn harvest as good summer weather shepherded the crop through key phases of development, the USDA said in a monthly report. The agency raised its estimate for US ending stocks, but they were below the average of analysts' estimates.
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