US corn futures closed firm on Wednesday on the slow harvest of the US corn crop, a weak dollar and gains in crude oil and equities. CBOT December up 1-1/4 cents at $3.83 a bushel. Funds bought 1,000 lots. Nearby contract hit $3.88-3/4 early in the session, highest level since June 25. Market ended below day's highs on profit-taking and harvest of bumper corn crop.
Rains in the US Midwest stalling harvest of the 2009 corn crop and outlooks for wet weather next week also seen hampering gathering of the crop. USDA late on Tuesday said US corn harvest 13 percent complete, below trade estimates for 15 to 20 percent and well below the five-year average of 35 percent.
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