Thursday, July 8, 2010

Corn Futures Settle Higher, Continuing Upward Trend for Week

Corn futures finished up again on Thursday, settling at 6 3/4 cents, or 1.8%, higher at $3.77 1/2.

December corn was up seven cents or 1.8 percent, at $3.96 1/4 a bushel.

Much of this is borrowed from concerns over wheat, which could yield less than projected, which would increase demand for animal feed, raising prices.

Expectations that the U.S. Department of Agriculture released on Friday will show a tighter corn balance sheet has increased interest in the corn market.

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