CHICAGO: Chicago Board of Trade corn futures ended nearly flat on Friday as traders assessed US weather conditions for the newly planted crop, traders said. CBOT July corn was up 1/4 cent at $3.30 a bushel at the close of trading.
Traders expect a large US crop but are reluctant to push prices too low because prices could still rally on short covering by funds, said Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage.
The US Department of Agriculture is slated to issue a weekly update on crop condition ratings on Monday.
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