CHICAGO: Chicago Board of Trade corn futures were higher Thursday on spillover support from soaring wheat, a large export sale of US corn, and persistent reports of low corn yields in the US harvest due to the summer drought.
* Exporters reported the sale of 217,424 tonnes of US corn to an unknown destination, with 184,912 tonnes for delivery this marketing year and 32,512 tonnes for the 2013/14 marketing year, the US Agriculture Department said on Thursday.
* Corn spot basis bids jumped 17 cents per bushel at an ethanol plant in Linden, Indiana, on Thursday amid tight supplies and a slow pace of deliveries, dealers said.
* Brazil will export a record 16 million tonnes of corn from the 2011-12 crop, the Brazilian government said on Thursday, up from an August estimate of 14 million tonnes, as the world looks to South America to offset US drought losses.
* High global prices and moist soils are spurring farmers to plant corn in Argentina this season, the Buenos Aires Grains Exchange said on Thursday as it raised its initial plantings forecast.
* Light showers in the northwest US Midwest on Thursday and heavier rainfall in the eastern Corn Belt into the weekend will slow corn and soybean harvest, an agricultural meteorologist said on Thursday. "Corn plants were weakened by the drought so there could be some ear droppage, we'll have to watch that," said Andy Karst, meteorologist for World Weather Inc.
* The December contract is above all key moving averages. The nine-day RSI is at 45.-Reuters
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