CHICAGO: US corn futures edged higher on Wednesday on support from a firm cash market and some technical buying, traders said.
The benchmark Chicago Board of Trade March corn contract found technical support near their 10-day moving average of $4.25 a bushel.
Prices hit a one-week high early in the session but the contract ran into resistance at its 50-day moving average of $4.29 a bushel.
Private exporters reported the sale of 105,664 tonnes of US corn to Japan for delivery in the 2014/15 marketing year, the US Agriculture Department said.
Cash bids for corn firmed at US Midwest ethanol plants as weather-related transportation slowdowns limited the supplies being delivered.
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