Corn prices rose during trading today, Wednesday, amid the decline of the dollar against most of the major currencies, and with the support of global demand, especially Chinese, for American agricultural commodities.
And consultants said that corn is receiving support from cold weather forecasts in western and central regions of the United States, which negatively affects the quality and size of crops.
This comes despite the fierce competition between American corn and a number of markets around the world, especially the Ukrainian and Brazilian crops, which may cause flooding of global markets.
On the other hand, the dollar index fell (against a basket of major currencies) by 20:13 GMT by 0.1% to 91.1 points, and recorded the highest level at 91.4 points, while the lowest level was recorded at 91.09 points.
At the close of trading, corn futures for May delivery rose 3.1% at settlement, and closed the session at $ 6.25 a bushel, and recorded the highest price at $ 6.28, while the lowest price was at $ 6.04.
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