CBOT corn gains 2.1pc to more than 8-week high on crop damage concerns

• The US Agriculture Department said farmers had completed just 15% of corn harvest.
• Technical resistance for the benchmark CBOT December corn futures contract was noted at the high end of its 20-day Bollinger range.

CHICAGO: Chicago Board of Trade corn futures rose 2.1% to their highest in more than eight weeks on Tuesday as forecasts for snow in the US Midwest raised fresh concerns about crop damage, traders said.

* The storm, which meteorologists said could bring as much as a foot of snow to South Dakota, North Dakota and Minnesota, also threatened to add to harvest delays that have been slowing delivery of fresh supplies to the region's processors and elevators.

* The US Agriculture Department on Monday afternoon said farmers had completed just 15% of corn harvest as of Oct. 6. The five-year average is 27%.

* Technical resistance for the benchmark CBOT December corn futures contract was noted at the high end of its 20-day Bollinger range on Tuesday.