US corn futures rallied more than 3 percent on Friday after US government moves to rescue the ailing financial sector boosted the stock market and touched off inflationary signals. Chicago Board of Trade corn closed 5-3/4 to 17-1/4 cents per bushel higher, with December up 15 at $5.42-1/4 per bushel.
Rally in crude oil also supportive. Dry weather in the US Midwest over the next 5 days to help fields recover from recent rains and help corn and soy crops continue to move toward maturity. Argentine corn export halt to support US corn.
US cash corn bids flat and farmer selling slow. December contract below all key moving averages and nine-day RSI at 46. Oat futures closed 2 to 6-3/4 cents per bushel higher, with December up 6-3/4 at $3.31-3/4 per bushel.
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