GRAINS-CORN FUTURES EXCEED THREE-MONTH HIGH ON U.S. EXPORT DEMAND

Jan 24, 2020 at 09:09 AM CST
U.S. corn prices are low compared to other suppliers, which should attract buyers, analysts said. Importers from Korea and Egypt have been in the market in recent days, according to traders, despite concerns about the quality of U.S. supplies. The deals with unknown destinations "will stir rumors of possible China sales following cash reports that China was inquiring at the end of last week," said Arlan Suderman, chief commodities economist for U.S. broker INTL FCStone. Most actively traded corn ended 1.2% higher at $3.93-3/4 a bushel on the Chicago Board of Trade and reached its highest price since Oct. 18. Technical buying helped drive gains as the nearby March contract topped the area around $3.92, traders said.

Jan 24, 2020 at 09:09 AM CST

U.S. corn prices are low compared to other suppliers, which should attract buyers, analysts said. Importers from Korea and Egypt have been in the market in recent days, according to traders, despite concerns about the quality of U.S. supplies. The deals with unknown destinations "will stir rumors of possible China sales following cash reports that China was inquiring at the end of last week," said Arlan Suderman, chief commodities economist for U.S. broker INTL FCStone. Most actively traded corn ended 1.2% higher at $3.93-3/4 a bushel on the Chicago Board of Trade and reached its highest price since Oct. 18. Technical buying helped drive gains as the nearby March contract topped the area around $3.92, traders said.