US corn futures closed higher on Friday on support from strong export sales and gains in soyabeans. CBOT September up 5-1/2 cents at $4.11-3/4 a bushel. New-crop December up 5-1/2 at $4.27-1/4. Funds bought 6,000 contracts. China to offer less corn at state auction next week, sparks fears reserves may be running low.
Crops in the US western Midwest are expected to see generally favourable weather over the next week to 10-days with the exception of recent heavy rainfall that caused flooding in low-lying areas. Hot temperatures in the southern Midwest will stress pod-filling soyabeans, resulting in some yield losses. CBOT September oats up 1-1/2 at $2.73-1/2.
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