Market Commentary and Intraday News

Corn prices head higher as harvest gets under way

275 days ago

By The Associated Press

The price of corn is rising as the start of the harvest renews expectations that the drought-damaged crop's yield may be smaller than expected.

Corn for December delivery rose 16.5 cents, or 2 percent, to finish Monday at $8.2375 per bushel. That's the highest level since Aug. 9.

Hot, dry weather damaged corn fields across much of the Midwest this summer. Analysts predict yields may be lower than the government's estimate of 123.4 bushels per acre.

Soybeans are benefiting from recent cooler, wet weather, but prices are still going up because of speculation that export demand will remain strong.

In other trading, prices are higher for gold, silver, platinum, palladium and gasoline. Oil and copper are lower.

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