CORN SET FOR 2ND WEEK OF GAINS ON STRONG DEMAND, LOWER U.S. PLANTING
Chicago corn was little changed on Friday, with the market on track for its second week of gains, while soybeans are set for their biggest weekly rise in a month as expectations of higher plant-based fuel in the United States underpinned prices.
Grain and oilseed markets have scaled multi-year highs in recent weeks with strong demand led by China and lower-than-expected U.S. planting driving prices higher.
“There is talk about producing more edible oil based biofuels in the United States which is supporting prices,” said Phin Ziebell, agribusiness economist at National Australia Bank.
GRAINS-Corn set for 2nd week of gains on strong demand, lower U S planting
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