US Corn Surges On Strong Crude Oil Prices

Corn futures were higher on Wednesday. March futures were 11 3/4 cents higher at $6.91 1/2. The May contract closed 12 cents higher at $7.02 1/4. December 2011 was 9 1/4 cents higher at $5.91 3/4.

Futures opened the day session 8 to 14 cents lower, but soon began to recover and moved to the plus side. A late surge also added to the gains.

Higher crude oil, weakness in the dollar index and higher metals helped commodity prices including corn recover. In contrast to Tuesday, wheat and soybeans moved higher too, which also helped boost corn.

(Source: http://www.indiainfoline.com/Markets/News/US-Corn-Surges-On-Strong-Crude-Oil-Prices/3576300112)