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CBOT corn rises on dry Argentina weather, lower U.S. dollar

ReutersJan 6, 2025 8:39 PM

- Chicago Board of Trade corn futures jumped on Monday as dry conditions persisted in Argentina, a major exporter of the crop, and the U.S. dollar turned lower on conflicting reports about the future of Trump tariffs.

  • CBOT March corn CH25 settled up 7 cents at $4.57-3/4 per bushel, at one point touching its highest price since June 13.

  • The U.S. Department of Agriculture reported export inspections of U.S. corn in the latest week at 847,463 metric tons, in line with trade expectations for 750,000-1,000,000. USDA/EST

  • The U.S. dollar was lower on Monday in volatile trading after conflicting reports about how aggressive President-elect Donald Trump's planned tariffs will be when he takes office.

  • A weaker dollar tends to make U.S. exports more competitive on the global market for holders of other currencies.

  • Moisture deficits are expected to grow in Argentina's corn and soy crop in the coming weeks, according to Commodity Weather Group.

(Reporting by Renee Hickman; Editing by Sandra Maler)

((renee.hickman@thomsonreuters.com))

Disclaimer: For information purposes only. Past performance is not indicative of future results.