US corn and soyabean futures rose early on Friday as buyers remained concerned that persistent hot and dry conditions will reduce crop yields in the Midwest and further diminish already tight domestic stocks. At 12:15 pm CDT (1715 GMT), CBOT December corn was up 19-1/2 cents at $7.58 a bushel.
CBOT November soyabeans were up 11 cents at $14.45-1/2 a bushel and CBOT December soft red winter wheat was up 11-1/2 cents at $7.72-1/2. "You are getting a rally back because fundamentally I did not see any reason for yesterday to be anything more than a correction," said Jon Marcus, president of Lakefront Futures and Options. "I would not want to be short these markets right here." Strength in corn added support to wheat prices. The gains came despite bearish outside markets such as a firm dollar and falling crude oil prices.
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