CBOT corn rallies to 6-1/2-year high

CHICAGO: Chicago Board of Trade corn futures reached a new 6-1/2 year high in a 12-session rally on Tuesday, following soyabean futures higher and aided by continued export demand, analysts said.

The most-active corn futures contract ended 9-1/2 cents higher at $4.66 per bushel, after reaching $4.67-1/4 per bushel, the highest for a most-active contract since June 2, 2014.

Life-of-contract highs were reached in all contract months through May 2022.

Large speculators raised their net long position in Chicago Board of Trade corn futures to 297,888 contracts in the week of December 21.—Reuters