Corn Futures Jump Most in Five Months After U.S. Exports Gain
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Corn prices jumped the most in five months on signs that demand is increasing for U.S. grain after prices slumped following last week’s earthquake in Japan, the world’s biggest buyer.
U.S. exporters reported sales more than doubled in the week ended March 10 from a week earlier, government data showed today. The U.S. Department of Agriculture also reported the sale of 116,000 metric tons to unknown destinations for delivery before Sept. 1. Before today, the cost of corn at shipping terminals near New Orleans fell 15 percent this month.