Corn Futures Test $6 Milestone

Posted by Brian Gould Mon, 07 Apr 2008 14:33:00 GMT

Speculative-fund buying took Chicago Board of Trade corn futures to all-time highs last Wednesday, with the lead contract testing the $6 area on ideas that adverse weather could delay plantings.

Nearby CBOT May corn rose 11.75 cents a bushel to settle at $5.9575, near its intraday and all-time high of $5.9925. Deferred contracts, including the December contract, representing the soon-to-be-planted crop easily settled above the $6-per-bushel mark.