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Corn up on South America, acreage worries

12/21/2010 @ 12:51pm

CBOT Corn is clinging to small gains on South American crop concerns and tight global supplies expected in 2011. The market has been slightly higher all day but has been unable to challenge the November high of $6.05.

Still, a close above $6 would be the first since July 2008. Dry, hot weather in Argentina during corn pollination is a main driver of the gains. Traders are also worried about whether U.S. farmers will plant enough acres in 2011. March corn up 2 1/2 cents to $6.02 per bushel.

Contact us at 312-341-5780 or tom.polansek@dowjones.com
(END) Dow Jones Newswires
December 21, 2010 13:32 ET (18:32 GMT)
Copyright (c) 2010 Dow Jones Company, Inc.

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