CHICAGO: US corn futures jumped more than 2% on Friday on technical and speculative buying ahead of a US government crop report next week that is expected to show reduced harvest prospects. The benchmark Chicago Board of Trade December corn futures contract settled 16-1/2 cents higher at $6.85 a bushel after holding technical chart support at its 100-day moving average. December futures gained 2.9% in the week, its third straight weekly advance.
WHEAT FIRMS
SINGAPORE: Chicago wheat rose on Friday, poised for a third straight weekly gain as India’s move to reduce rice exports and talks about Russia’s restrictions on Ukrainian grain shipments underpinned the market.
Soybeans rose, although the market is on track for a second week of losses on expectations of a record US crop and higher South American planting.—Reuters
Comments
Comments are closed.