CANBERRA/PARIS: Chicago corn futures climbed on Wednesday and were near their highest levels since June 25 after the US Department of Agriculture said US end-of-season corn stocks would drop to a two-year low, well below analysts’ expectations.
Soybean futures edged lower as expectations for a large South American supply offset a higher USDA estimate for US soyoil exports. Wheat edged higher on cuts to the USDA’s estimates for European Union and Russian production.
The most-active corn contract on the Chicago Board of Trade (CBOT) was up 0.1% to $4.49-3/4 a bushel by 1300 GMT after reaching $4.50 on Tuesday when the USDA report was released.
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