US corn futures on Friday shrugged off early profit-taking pressure to stage a fresh rally on continued planting delays. Corn prices rose to their highest since April 27 as forecasts for excessively wet weather and flooding in the Midwest next week offered support.
At 11:40 am CDT (1640 GMT), Chicago Board of Trade July corn was up 1.4 percent, or 10-3/4 cents, at $7.59 a bushel. CBOT July soybeans were up 10-1/2 cents at $13.90. July wheat was down 3-1/4 cents at $8.08-3/4, after rising in the opening minutes of trade as high as $8.18-1/2.
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