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CBOT corn jumps higher on frost forecast

Agriculture.com Staff 09/12/2007 @ 10:35am

A hint of frost in the Corn Belt has turned the corn market higher Wednesday, on the Chicago Board of Trade futures market.

At mid-day, the Dec. corn futures contract is trading $0.15 higher at $3.56 per bushel.

Al Kluis, Kluis Commodities says the markets opened up negative towards USDA's record yield estimate of 155.8 bushels per acre, but later turned higher.

"There's a greater chance of frost for western Minnesota, the Dakota's, and parts of Iowa for Friday and Saturday," Kluis said. So, the report was negative, but with wheat higher and the frost news, it's been a dynamic combination."

Depending upon new weather forecasts expected later today, the market could look even different at the end of the trading session, Kluis said.

A hint of frost in the Corn Belt has turned the corn market higher Wednesday, on the Chicago Board of Trade futures market.

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