Corn Advances on Signs of Increasing Demand for U.S. Supplies
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Corn rose, snapping the longest losing streak since March 2011, on signs that a slump in prices may have boosted demand for supplies from the U.S., the world’s largest grower. Soybeans also gained.
The amount of corn inspected for export at U.S. ports increased 49 percent in the week ended Oct. 25, compared with a week earlier, to 15.5 million bushels, the Department of Agriculture said yesterday. The grain slid 3.1 percent last week on the Chicago Board of Trade, and is down 13 percent since concerns about U.S. drought sent prices to a record $8.49 a bushel in August.