Corn futures advance

(China Daily)
Updated: 2011-02-16 13:47
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SINGAPORE - Corn futures advanced as adverse weather continued to threaten crops around the world, tightening global supply.

May-delivery corn climbed 0.4 percent to $7.095 a bushel on the Chicago Board of Trade at 2:08 pm Singapore time on Tuesday. The grain may surge to a record in the first half and be the best-performing agricultural commodity as increased government purchases help to "inflame" the market, Vijay Iyengar, managing director at Agrocorp International Pte, said in Singapore on Monday.

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"As the global economy recovers with steady growth, the crop prices may remain at historically high levels for a number of years," Ker Chung Yang, an analyst at Phillip Futures Pte, said on Tuesday.

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