Corn prices near six-month high on strong demand; wheat rises
1 week, 3 days ago

Corn prices near six-month high on strong demand; wheat rises

Live Mint  

* Corn nears June highs on firm demand for US cargoes * Wheat prices underpinned by Russian output worries SINGAPORE, Dec 30 - Chicago corn futures gained further on Monday, after hitting six-month highs in the previous session, on strong demand for U.S. supplies and bargain-buying. The most-active corn contract on the Chicago Board of Trade rose 0.2% to $4.54-3/4 a bushel by 0359 GMT, having hit its highest since mid-June at $4.55 a bushel in the previous session. The U.S. Department of Agriculture reported export sales in the week to Dec. 19 were 1.7 million metric tons, topping a range of trade expectations for 1.0 million to 1.6 million tons. Conditions for winter wheat crops will worsen in Russia's Central and Volga areas in January as warmer-than-usual weather and excess moisture cause sprouts to keep growing during the winter, the state weather agency said on Saturday.

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