CBOT Corn Ends Slightly Higher as Traders Monitor U.S. Harvest Weather


CHICAGO, June 10 (Reuters)Chicago Board of Trade corn futures ended slightly higher on Friday as the market was buoyed by U.S. supply issues, traders said.

* Traders analyzed weather forecasts for crops in the United States, with high temperatures expected to hit corn in the Midwest in the coming days.

* The benchmark July CBOT corn futures contract CN2 was up 1/4 cent at $7.73-1/4 a bushel on the fifth straight day of gains.

* Slow farmer sales and firm spot prices supported the market, traders said.

* The U.S. Department of Agriculture, in a monthly report, pegged corn ending stocks at 1.485 billion bushels for 2021/22 and 1.400 billion for 2022/23. Both were above analysts’ expectations.

(Reporting by Tom Polansek in Chicago; Editing by Cynthia Osterman)

((Thomas.Polansek@thomsonreuters.com; https://twitter.com/tpolansek))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.




nasdaq

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button