Persistent and near-relentless buying by investment funds boosted Chicago Board of Trade corn futures higher in early trade on Friday, traders said. "What can I say other than they're back and buying more," a veteran corn trader said. At 10:23 am CST (1623 GMT), corn was up 2-1/4 to down 1/4 cent per bushel. March was up 2-1/2 at $2.15 per bushel. May was up 2-1/4 at $2.22-1/4.
Several funds were buying the corn market, and Man Financial was a noted buyer of 600 May.
"No one is going to argue with the buying power the funds have, so let's go higher," a pit source said.