Markets

CBOT corn ends up on bargain-buying, positioning ahead of USDA

CHICAGO: Chicago Board of Trade corn futures closed higher Tuesday on a round of bargain-buying a day after th

Published March 28, 2017 Updated March 28, 2017 07:55pm

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By Shoaib Ur Rehman

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CBOT May corn settled up 2 cents at $3.57-3/4 per bushel.

Additional support stemmed from broad strength in commodities, including crude oil. The 19-market Thomson Reuters CoreCommodity CRB Index rose 0.5 percent.

Analysts surveyed by Reuters expect the US Department of Agriculture on Friday to project a decline in US corn plantings for 2017 and a year-on-year rise in March 1 stocks.

Rally limited by ample global grain supplies and expectations for a large South American harvest.

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