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Corn surges as crop concerns persist

08/23/2011 @ 3:36pm

US corn futures end higher on worries about the US crop and outside market support. Monday's weekly USDA crop progress report, which showed greater-than-expected crop deterioration, reaffirmed concerns about yields. 

Some traders and analysts are now talking about national yields below 150 bushels per acre, which would ensure supplies remain uncomfortably tight throughout next year. 

Outside markets, including stronger equities, added support. Weak demand is limiting gains. CBOT Sept corn ends up 9 3/4 cents to $7.30 1/4 per bushel. Dec corn sets another contract high, ends up 9 cents to $7.43 1/2.


(ian.berry@dowjones.com)
Contact us in Chicago at 312-750-4075; ian.berry@dowjones.com
(END) Dow Jones Newswires
August 23, 2011 14:57 ET (18:57 GMT)

   

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