Chicago Board of Trade corn futures jumped 3 to 6 cents per bushel near midday on Friday on fund buying, tied to surging outside markets that saw gold soar to fresh 25-year highs, traders said.
Traders said investment funds continued to buy commodities, including corn and other grains, amid global unrest that included increased tension over Iran's refusal to acknowledge a US Security Council call to suspend nuclear fuel enrichment. At 11:30 am CDT (1630 GMT), CBOT corn was up 1-1/2 to 5 cents per bushel, with May up 5 at $2.36-1/4 per bushel.