Chicago Board of Trade (CBOT) corn futures closed higher on Friday on short-covering ahead of the weekend and forecasts for hot weather in the US Midwest, analysts said. The benchmark CBOT July corn futures contract settled up 2 cents at $3.87-3/4 per bushel.
For the week, the contract rose 15 cents, or about 4 percent, the biggest weekly advance for a most-active corn contract since March. The US Department of Agriculture in its monthly supply/demand reports left its US corn ending stocks forecast unchanged from last month for both 2016-17 and 2017-18.
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