CHICAGO: Chicago Board of Trade (CBOT) corn futures gained on Monday as the market wrestled with dry weather forecasts and damage reports from last week's derecho storm that tore across the US Midwest.
Fund short-covering also set a bullish tone for the day, traders said.
CBOT December corn added 6-3/4 cents, settling at $3.44-3/4 per bushel.
Warmer, dry weather is expected across much of the Midwest in the next two weeks, according to space technology company Maxar.
A storm packing hurricane-force winds tore across the US Midwest last Monday, causing widespread property damage in cities and rural towns and leaving more than half a million homes and businesses without power.
US President Donald Trump on Monday said he approved federal disaster aid for Iowa after a hurricane-force storm hit last week and caused widespread property and crop damage.
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