CHICAGO: Chicago Board of Trade corn futures gained on Wednesday as exports offered support against continued harvest pressure, traders said.
Most-active CBOT December corn ended up 5-1/4 cents at $3.96-1/2 per bushel.
USDA reported 420,000 tonnes of new sales to China on Wednesday during the 2020/2021 marketing year, the first corn sale to the country since Sept. 22. China's corn futures hit a record high on Wednesday as investors bet on higher prices for the grain because of crop damage from typhoons this year and due to Beijing's efforts in years past to whittle down its once-mammoth state reserves.
Comments
Comments are closed.