The Chicago Board of Trade corn market were sharply higher early on Thursday, boosted by concerns that the US corn crop was shrinking as dry weather blanketed the Midwest in the midst of pollination, traders said. Of greatest concern was dryness in the key US corn state of Illinois.
The Illinois corn crop is rated the lowest in the country, with 52 percent seen as poor to very poor. July corn was up 7-1/4 cents at $2.44-1/2 per bushel and new-crop December was 6-1/4 higher at $2.62-1/2 by 110:50 am CDT (1550 GMT).
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