Chicago Board of Trade (CBOT) corn futures rose on Friday, bolstered by a surge in wheat futures, improved export demand and technical buying, traders said.
CBOT December corn settled up 8-1/2 cents at $3.71-1/4 per bushel and most-active March ended up 8 cents at $3.81-1/4.
There were no deliveries against the CBOT’s December corn contract. Some traders had been expecting deliveries of zero to 400 contracts, and a few anticipated heavier deliveries of 500 to 1,500 contracts.
Weekly US corn export sales were 806,800 tonnes, compared with analysts’ estimates for 400,000 to 900,000 tonnes.
Improving South American crop weather capped the price rally, traders said.
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