Corn futures at the Chicago Board of Trade were higher by midday on Friday, supported by the strength in wheat and soyabeans, traders said. But corn was the lager of the floor, compared to the red-hot wheat and soyabeans markets.
Corn had been the leader up until Friday, rising to a five-month high on Thursday and lifted by a strong export business. December corn was up 2-1/2 cents at $3.97-1/4 a bushel by noon (1800 GMT). The back months were up 3 cents to down 1/2 cent.
Wheat rose the 30-cent trading limit in March while soyabeans soared to 34-year top in a spot month amid prospects for USDA to trim its 2007 US ending stocks estimates in next week's crop report.
US export sources on Thursday said South Korea was seeking 220,000 tonnes of non-GMO optional-origin corn. The Beijing-based Zhengzhou wholesale grains market said on Friday that China will auction 500,000 tonnes of corn on December 11, in its latest move to tame food-led inflation.
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