date:Nov 09, 2012
December corn trade higher on the day and briefly traded above 750 shortly after open outcry began trading. Buying support was linked to a sharply higher wheat market as well as thoughts that Argentina corn production will be slashed due to heavy rainfall in October.
Exports remain sluggish for corn but this only makes up 10 per cent of the demand matrix. Demand for corn remains strong in feeder markets as wheat extends its premium to corn futures.
Basis bids at ethanol facilities are strong