CHICAGO: Chicago Board of Trade (CBOT) corn futures climbed on Friday, as scouts on a US Midwest crop tour found crop damage across top-corn producing state Iowa, undermining strong yields across the rest of the region. CBOT December corn added 1-1/4 cents, settling at $3.40-1/2 per bushel.
For the week, the most active corn futures contract gained 0.7% for a second week of gains. Crop scouts on the widely followed Pro Farmer Midwest Crop Tour found battered fields in central Iowa on Thursday, with corn stalks snapped and ears littering the ground due to the hurricane-like winds. In southern Minnesota, where weather woes plagued farmers last year, conditions improved dramatically. Exporters sold 405,000 tonnes of new crop corn for delivery to China, according to the USDA.
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