Corn Watch: CBOT Corn Called 1 to 2 U.S. Cents Higher.

Resource News International, November, 2004

Winnipeg, MB, Nov 17, 2004 (Resource News International via COMTEX)

Corn futures at the Chicago Board of Trade (CBOT) are seen starting Wednesday's session 1 to 2 U.S. cents higher. Spillover strength from the soy complex and slow farmer selling were expected to lift corn prices at the open Wednesday.

The CBOT December corn future finished Tuesday's trading session up 1/2 of a U.S. cent at U.S.$2.03. Activity was quiet on Tuesday. The corn trade continues to get its direction from the soybean pit, which has been buoyed in recent sessions by the discovery of Asian Rust in soybean fields in Louisiana.

Analysts maintain that the December contract will have to break above U.S.$2.09 1/2, the October high, in order to maintain any bullish...

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