Markets

CBOT corn firms in light volume trading

CHICAGO : Chicago Board of Trade corn futures edged higher on Wednesday, rebounding from a sharp sell-off on Tuesday a

Published September 14, 2011 Updated September 14, 2011 08:15pm

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By Abdul Ahad

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* Concerns that high prices for US corn will weaken demand limited the gains.

* Corn volume was light with about 202,000 contracts changing hands, nearly 30 percent below the average of the last 30 days.

* Cargill has warned its North American customers to expect corn sweetener prices to rise by at least 30 percent in 2012.

* Argentina will authorize the export of an additional 7 million to 8 million tonnes of 2011/12 corn.

* Freezing temperatures hit some northern parts of the US Midwest on Wednesday morning but most of the corn crop was too mature to be hurt by the cold.

* DuPont's Pioneer unit to raise corn seed prices in mid-single digit range next year.

* Analysts expecting weekly export sales of corn in range from 400,000 to 700,000 tonnes. US Agriculture Department's report due on Thursday morning.

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