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Corn for December Gains 0.1% to $7.7225 a Bushel, Erasing Drop

July 18 (Bloomberg) -- Corn for December delivery gained 0.1 percent to $7.7225 a bushel on the Chicago Board of Trade at 7:39 a.m. in Singapore, erasing an earlier loss of as much as 1 percent. Prices reached $7.89 a bushel yesterday, the highest level for a most-active contract since June 2011 as drought baked crops across the U.S. Midwest, hurting yields.

To contact the reporter on this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net

To contact the editor responsible for this story: Jake Lloyd-Smith at jlloydsmith@bloomberg.net

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