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SINGAPORE- Chicago corn futures rose 1.5 percent on Tuesday with the market climbing to a more than six-week high, buoyed by expectations of higher Chinese demand for US farm products following talks between the two countries.
Soybeans rose 1.1 percent, up for a second session, while wheat gained half a percent after closing lower.
“It could lead to higher demand for US agriculture products,” said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney. “It has a real chance of changing things.”
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The most active corn contract on the Chicago Board of Trade was up 1.5 percent at $3.50 a bushel, after hitting $3.50-3/4 a bushel, its highest since July 10. – Reuters
