Corn climbs to 1-month peak

    161

    SINGAPORE- Chicago corn futures climbed to a one-month peak on Monday, rising for five out of six sessions on concerns over widespread damage after a storm tore across a major US growing region.

    Wheat rose 1.3 percent, gaining for a third consecutive session while soybeans climbed their highest since early July.

    “US corn yields are looking pretty good but now we have damage from adverse weather,” said trader at a leading corn supplier in Asia. “It remains to be seen how much damage has actually taken place.”

    The most-active corn contract on the Chicago Board Of Trade added 1 percent to $3.41-1/2 a bushel, near the session high of $3.41-3/4 a bushel – the highest since July 13.

    Wheat gained 1.3 percent at $5.06-1/4 a bushel and soybeans were up 0.8 percent at $9.05-1/2 a bushel, after rising to their highest since July 9 at $9.06-1/2 a bushel.