Corn futures on the Chicago Board of Trade surged sharply at midday Tuesday, with bellwether December up 11 cents, as widespread fund buying boosted prices, traders said.
Traders said a large portion of the buying was stemming from the e-cbot electronic trade, with close to 70,000 lots of corn traded by midday on the platform. At 12:02 pm CST (1802 GMT), CBOT corn was up 1-1/2 to 10-3/4 cents per bushel, with December up 11 cents at $3.53-1/2 per bushel.