CBOT corn tops three-month high

Most-active Chicago Board of Trade corn futures exceeded a three-month high on Thursday on export demand and technical buying, traders said. The US Department of Agriculture said private exporters sold 141,000 tonnes of US corn to unknown destinations for 2019/20 delivery and another 143,948 tonnes to Guatemala.

Some key Asian feed makers are still having to pay more for higher-quality corn from the Black Sea region as the United States struggles with weather damage to its crop.

Technical buying helped drive gains as CBOT March corn topped the area around $3.92 a bushel, traders said. The most-active contract traded up to $3.94, its highest price since October 18.