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SINGAPORE- Chicago corn futures bounced back on Thursday, with prices climbing 1 percent, as strong demand from China underpinned the market.
Wheat rose after three sessions of losses, while soybeans inched higher.
“The decline in prices encouraged buyers to cover supplies and that is now supporting prices,” said a Singapore-based feed grains trader at an international food supply company.
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“China has been buying US corn consistently for the last few days.”
The most-active corn contract on the Chicago Board Of Trade (CBOT) was up 1 percent at $6.64-1/2 a bushel, having closed largely flat in the previous session. – Reuters
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