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Latin America
Corn Futures Settled Higher
Futures settled 4 1/4 to 9 cents higher through the July contract. September corn finished 1 cent lower, while new-crop contracts were just over a penny higher. Corn futures were supported today by strength in the cash market. While there was no fresh news on the demand front, rising basis gives traders the impression some demand may be on the horizon. Additional support came on spillover from soybeans, which are being supported by strong demand. Buying interest in new-crop corn futures remains limited to mild short-covering as recent heavy precip across the Corn Belt will help recharge soil moisture.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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