Chicago Board of Trade corn futures were higher at the 1:15 pm CDT (1815 GMT) close of pit trade on Friday on concerns about drier-than-desired crop weather in the US and tight stocks. CBOT July was up 8.9 percent for the week. Developing corn and soybean crops in the US Midwest will be stressed by hot and dry weather forecast for the region this weekend, meteorologists said on Friday.
South Korea's largest feedmaker Nonghyup Feed (NOFI) is seeking up to 170,000 tonnes of corn for arrivals between July and December via tenders on Friday, traders in Seoul said. CIF Gulf corn basis values were mostly steady, underpinned by slow movement. Export demand has been thin amid competition from South America. July was below all key moving averages with first major resistance at the 50-day ma of $6.08-1/2. The nine-day RSI was at 58.