US MIDDAY: corn moves up

29 Jun, 2006

Corn futures at the Chicago Board of Trade were up early on Wednesday with firm cash corn markets and slow farmer selling supportive, along with a rumour China may have bought a cargo of US corn, traders said.
At 10:24 am CDT (1524 GMT), CBOT corn was up 3/4 to 2-3/4 cents per bushel, with July up 2-1/2 at $2.27-3/4 per bushel. New-crop December was up 2-1/2 at $2.53-3/4 per bushel.
Midwest weather was mostly conducive to corn pollination, a bearish price factor. However, crop weather was less than ideal with some outlooks for hotter and drier weather next week providing some fodder for corn bull.

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