date:Dec 25, 2012
March corn closed slightly higher on the day after holding onto overnight gains despite sharply lower equity markets and a stronger US Dollar.
Buying support was linked to more concern that Argentina corn production will decline due to rainfall this week. Conditions are expected to dry out into the weekend but more rainfall is expected for some areas next week. South Korea decided to include the US in their 210,000 tonne corn tender overnight.
The buyer purchased 193,000 tonnes to be sourced