Chicago corn futures bounced back on Tuesday, after suffering their biggest one-day loss in almost seven weeks in the previous session, as expectations of strong Chinese demand supported prices, reports Reuters.
Still, improved U.S. crop ratings and harvest pressure kept a lid on prices.
“Chinese demand is supportive for prices, but overall there is no shortage of grains in the world at the moment,” Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney, told Reuters.
