CBOT corn gains on firm export demand
- CBOT most-active March corn settled 6-1/4 cents higher at $4.33-3/4 per bushel.
- Corn was 5-3/4 cents higher, for a second consecutive week of gains.
CHICAGO: Chicago Board of Trade corn futures ended higher on Friday on strong export sales, traders said.
CBOT most-active March corn settled 6-1/4 cents higher at $4.33-3/4 per bushel, after reaching a life-of-contract high at $4.36 per bushel.
For the week, corn was 5-3/4 cents higher, for a second consecutive week of gains.
Weekly corn export sales last week totaled 1.67 million tonnes, according to the USDA, above trade estimates for 800,000 to 1.4 million tonnes.
In a daily sales announcement, the USDA also reported private sales of 302,160 tonnes of corn to Mexico for shipment in the 2020/21 marketing year.
Additional pressure was noted from traders liquidating positions ahead of first notice day for deliveries against December futures contracts on Monday, Nov. 30.
Comments
Comments are closed for this article.