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CBOT corn rises from contract lows on wheat strength

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By Shoaib Ur RehmanReuters

CHICAGO: Chicago Board of Trade (CBOT) corn futures rose on Tuesday, snapping a streak of four straight lower closes, on spillover strength from a rally in the wheat market, traders said.

* CBOT May corn hit a fresh contract low during overnight trading but found support at the low end of its 20-day Bollinger range.

* Technical resistance was noted near Monday's high.

* Private analytics firm IEG Vantage raised its forecast for 2019 US corn plantings to 91.771 million acres from 91.591 million acres.

Copyright Reuters, 2019
 

 

 

 

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