Commodities
Chicago Corn Edges Higher as Traders Await Key USDA Report
Chicago corn futures edged higher on Thursday as traders adjusted their positions ahead of a closely watched US Department of Agriculture supply-and-demand report due this week.
The most-traded corn contract on the Chicago Board of Trade (CBOT) rose by 0.14% to $5.28-1/5 a bushel, while wheat futures declined by 0.3% to $7.25-1/4 a bushel.
The USDA's supply-and-demand report is expected to provide a clearer indication of the extent to which hot, dry weather damaged crops in the US Midwest, particularly soybeans.
The report is also likely to estimate corn yield for the month at 178.2 bushels per acre, according to analysts polled by Reuters.