CANBERRA- Chicago corn futures held their gains on Thursday, after rising nearly 2 percent in the previous session on the coattails of a stock market rally, triggered by Donald Trump’s re-election as the US president.
Wheat futures held steady, while soybeans rose on strong soyoil prices.
The most-active corn contract on the Chicago Board of Trade was unchanged at $4.26-1/4 a bushel, after climbing 1.9 percent on Wednesday.
CBOT soybeans were 0.5 percent higher at $10.08-1/2 a bushel and wheat was flat at $5.73 a bushel. Both eked out small gains on Wednesday.
All three contracts initially fell as it became clearer that Trump would win, raising the threat of another trade war with top importer China and boosting the US dollar.
But prices soon rebounded despite the strong dollar making US farm goods costlier for overseas buyers, as US equities surged.
Trump, who must wait until his inauguration in January 2025 to enact any policy, has proposed tariffs of 60 percent on Chinese goods and at least 10 percent on all other imports.
