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Markets

CBOT corn ends firm on intermarket spreading, technical buying

Published Updated

* CBOT March corn settled 1/4 cent higher at $3.78-1/2 per bushel. The contract held chart support at its 100-day moving average and closed near its 20- and 50-day averages.

* Corn was supported by spread trading, with investors buying corn and selling wheat and soybeans.

* Traders are watching for any corn demand from China following promises by Beijing to purchase "a significant amount" of US agricultural goods and other products.

* The market is also monitoring South American weather following hot and dry weather in Brazil and excessive rains in Argentina.

Copyright Reuters, 2019