Corn futures at the Chicago Board of Trade leaped to a decade high early on Wednesday, while new contract highs were set on outlooks for the supply of corn to keep shrinking, traders said.
Corn futures continued to find buyers since traders and analysts expect USDA early Thursday, in its November crop report, to trim its estimate for 2006 US corn production and also trim its forecast for 2006/07 US corn ending stocks. At 9:54 am CST (1554 GMT), CBOT corn was up 7 cents per bushel to down 1 cent, with December up 7 at $3.58 per bushel.
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