Commodities
Corn Futures Hit Fresh Three-Year Highs Amid Wheat Strength and Supply Concerns
Corn futures have reached fresh three-year highs on Wednesday, with prices up 11 to 14 cents in midday trading.
The rally is attributed to spillover strength in wheat and concerns over US corn supply, leading to a national average Cash Corn price increase of 9 cents to $4.71 1/2.
The latest EIA data shows a total production of 1.112 million barrels per day, up 23,000 bpd from the previous week, with modest stock builds and exports also contributing to the upward trend.